Shinhan Bank prices Foreign Currency-Denominated Green Bond

Shinhan Bank has priced the first foreign currency-denominated green bond by a Korean commercial bank, revealing its EUR500 million green bond offering. The deal also means that Shinhan Bank is also the first Korean commercial bank to establish its investor base in all G3 currency capital markets.

In the execution of the transaction, Shinhan hosted several fixed-income investors’ meetings in Europe, garnering strong interest from institutional investors, including fund managers, insurance companies, banks, central banks, amongst others, according to a report by The Asset.

Bonds have been reported to have been issued across France, Germany, the UK, alongside other European jurisdictions, with 35% of the bonds being issued in Asia.

Societe Generale, HSBC, Crédit Agricole CIB Credit Suisse and BNP Paribas have been reported to have acted as the joint lead managers for the transaction.

The bonds for the green bond were drawn from Shinhan Bank’s USD6 billion global medium-term note programme, with the proceeds to be used to either finance or re-finance eligible green projects as part of the bank’s commitment to the Sustainable Development Goals bond framework it has set out.