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Shinhan Financial Group issues US$500M of hybrid securities

Shinhan Financial Group Co. Ltd. issued US$500 million of hybrid securities with a coupon of 5.875%, Yonhap News Agency reported Aug. 8.

It was the first such foreign-currency issuance by any South Korean bank holding company, the report said.

The offering attracted US$2 billion in buy orders from 150 institutional investors, said Shinhan Financial Group, which had delayed the issuance from July due to challenging market conditions.