Shinhan Bank issues US$500 mln dollar bonds

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SEOUL, June 23 (Yonhap) -- South Korean lender Shinhan Bank said Tuesday it has
issued US$500-million dollar-denominated bonds abroad to redeem its maturing
debts.
The three-year note carries an interest rate of 3.8 percent above the London
Interbank Offered Rate and was sold in the U.S., the lender said.
The debts were sold at the lowest yield among local banks' foreign currency bonds
since the credit market squeeze late last year, which was prompted by the
collapse of the U.S. investment bank Lehman Brother, Shinhan Bank said.
The proceeds will be used to repay the lender's foreign debts that are coming
due, it said.
pbr@yna.co.kr
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