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Shinhan Financial to issue US$500M of bonds

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Shinhan Financial to issue US$500M of bonds

The board of South Korea's Shinhan Financial Group Co. Ltd. approved a plan to raise US$500 million from a hybrid securities issuance in Singapore.

It includes an option for Shinhan Financial to call back the bonds after five or 10 years, subject to regulatory approval.

Details including tenor and coupon rate remain to be determined, based on May 18 filings.