Korea's Shinhan Bank picks lead arrangers for dollar-denominated hybrid bonds

By Paul A. Harris

St. Louis, Aug. 31 - Korea's Shinhan Bank will conduct a roadshow in Asia and Europe from Sept. 7 through Sept. 12 for its dollar-denominated offering of 30-year hybrid tier 1 securities, according to an informed source.

The securities will be non-callable for 10 years.

ABN Amro, Barclays Capital, JP Morgan and Morgan Stanley will be the lead arrangers for the Regulation S offering, the size of which remains to be determined.

Issuer ratings on the Seoul-based private retail bank are A3 from Moody's Investors Service, A- from Standard & Poor's and A- from Fitch Ratings.

Shinhan Bank's last dollar-denominated bond deal was a $300 million issue of 10-year subordinated bonds that priced at 99.901 to yield mid-swaps plus 71 basis points on Feb. 23, 2006.

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