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Shinhan Card issues US$450M of asset-backed securities

Shinhan Card Co. Ltd. issued US$450 million of asset-backed securities based on credit card receivables, Yonhap News Agency reported Sept. 5.

The securities carry an average maturity of three years and six months.

In March, the company issued US$350 million of asset-backed securities.

Shinhan Card is a unit of Shinhan Financial Group Co. Ltd.