Shinhan Bank issues convertible bonds for 1st time in Japan
By Yonhap
Shinhan Bank's headquarters in central Seoul / Courtesy of Shinhan Bank
Shinhan Bank, a major Korean commercial bank, said Monday it has issued 40 billion Japanese yen ($259.9 million) worth of yen-denominated convertible bonds in the Japanese bond market.
It marked the bank's first issuance of convertible bonds, and they fall under the environmental, social and governance (ESG) category, as the funds are intended to support companies working to reduce carbon emissions.
The issue size was increased by 10 billion yen from the initial plan due to strong investor demand, according to the bank.
The bonds were issued with maturities and coupon rates of 1.322 percent for 2 years, 1.556 percent for 3.25 years and 1.732 percent for 5 years, it added.