January 22, 2013 / 3:39 AM / 5 years ago

TEXT-S&P: Shinhan Bank's Proposed USD Snr Unscrd Bonds Rated 'A'

(The following was released by the rating agency)

HONG KONG (Standard & Poor‘s) Jan. 22, 2013--Standard & Poor’s Ratings Services said today that it has assigned its ‘A’ rating to Shinhan Bank’s (Shinhan; A/Stable/A-1) proposed U.S. dollar-denominated senior unsecured bonds. The bonds will be drawn down from the bank’s US$6 billion global medium-term note program. The rating on the unsecured debt is subject to final documentation.

Shinhan intends to use the bond proceeds for the bank’s general corporate purpose. The bonds will constitute direct, unconditional, unsecured, and unsubordinated obligations of the bank. They will rank pari passu with all other unsecured and unsubordinated obligations of the bank.


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