Korea's Shinhan Bank sets guidance for $350 million 10-year bonds at T+134 bps area

By Reshmi Basu

New York, July 6 - Shinhan Bank set price guidance for a $350 million offering of 10-year bonds (Baa2/BBB-) at Treasuries plus 134 basis points area or mid-swaps plus 90 bps area, according to a market source.

The upper tier II bonds will be non-callable for five years. If not called, there will be a 150% step-up.

AMB Amro and Banc of America Securities LLC are the lead managers for the Regulation S transaction.

Shinhan Bank, based in Seoul, is a private retail bank.

The proposed issue is a drawdown under the issuer's medium-term note program.

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