Shinhan Bank raises $350-M through bonds

Shinhan Bank will have US350 million to refinance its debts and extend loans to smaller companies.

The amount was raised through selling of dollar-denominated bonds.

The debts were issued at an interest rate of 1.27 percentage points above the U.S. Treasuries with a 5.5-year maturity, the bank said in a statement.

The bulk of the bonds were sold to Asian investors, followed by those from Europe and the United States, the lender said.

The bond sale was managed by seven global investment banks including BNP Paribas, BoA-Merrill Lynch and HSBC, according to the bank.

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