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Wed, February 2, 2022 | 19:56
Non-banks
Shinhan Card issues ESG bonds
Posted : 2019-08-28 18:55
Updated : 2019-08-28 18:55
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Shinhan Card CEO Lim Young-jin
Shinhan Card CEO Lim Young-jin
By Lee Kyung-min

Shinhan Card issued 100 billion won ($82.4 million) of ESG bonds in cooperation with SK securities, the firm said Wednesday.

An ESG bond is a type of debt offering aimed at financing corporate activities in environmental and social responsibility and governance improvement.

The funds will be used to help the underprivileged and for job creation and eco-friendly initiatives including green energy sources development, the firm said.

The bonds have an average maturity date of 4.6 years and carry a coupon rate of 1.4 percent.

Shinhan Card is the second subsidiary of Shinhan Financial Group to issue ESG bonds, following Shinhan Bank. The bank issued $500 million of the bonds on July 30.

The aggressive move to issue ESG bonds is part of efforts to boost eco-friendly projects apart from healthy management of the group's financials.

This is a major initiative of the group's Chairman Cho Yong-byoung, whose priority is on inclusive growth.

"The funds will help us with continued, sustainable growth," a Shinhan Card official said.


Emaillkm@koreatimes.co.kr Article ListMore articles by this reporter



 
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