South Korea's Shinhan Bank Co. Ltd. plans to issue 200 billion won of hybrid securities, The Korea Economic Daily reported Oct. 15, citing an official from the bank.

The bank will issue the hybrid securities as perpetual bonds priced with a coupon of 3.7%. They are callable after five years.

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

As of Oct. 12, US$1 was equivalent to 1,130.25 South Korean won.