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Shinhan Bank issues €500M of green bonds

South Korea's Shinhan Bank Co. Ltd. said Oct. 16 that it issued €500 million of five-year fixed-rate green bonds, The Chosun Ilbo reported.

The coupon for the first euro-denominated green bond offering by any South Korean commercial bank was set at 0.25%.

Shinhan Bank plans to use proceeds from the issuance to fund environment-related projects.

The bank is a unit of Shinhan Financial Group Co. Ltd.