Shinhan Financial Group confirmed the first part of a ₩400 billion bond issue at ₩270 billion with payment on September 14. The company is now using the money for debt repayment instead of general operating funds, reported DART.
These special bonds act as safety cushions for banks during financial stress. Additional Tier 1 bonds have write-down rules that kick in if the bank's capital drops too low. Shinhan Financial is redirecting ₩110 billion of debt repayment that was not previously announced in the original bond terms.
Shinhan Financial Group operates banking, insurance, and investment services across Korea and internationally. The company is South Korea's fourth-largest financial group when measured by total assets under management.
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| Symbol | Last Price |
|---|---|
| 055550Shinhan Financial Group Co., Ltd. | ₩110,300 -3.7% |