Shinhan serves up first SDG bank capital dollar bond

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By Morgan Davis
17 Apr 2019

Shinhan Bank of South Korea managed tight pricing on its Basel III-compliant tier two deal on Monday. Investors overwhelmed the $400m transaction with orders that covered the book more than seven times at its peak, thanks in part to its rare 10 year tenor but also as a result of its status as Asia’s first dollar-denominated UN Sustainable Development Goals-linked bond. Morgan Davis reports.

South Korean issuers have been leading the charge for new green products, with Kookmin Bank’s tier two sustainability-labelled deal as the most recent example. Kookmin’s transaction, which raised $450m in January, was a first for bank capital in the region. Only a handful of social, green or sustainability-linked bank ...

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