(The following statement was released by the rating agency)
SEOUL/SINGAPORE, March 17 (Fitch) Fitch Ratings has assigned a
‘BBB+(EXP)’
expected rating to South Korea based Shinhan Bank’s (Shinhan;
A/Stable) proposed
US dollar denominated subordinated unsecured notes.
This is Shinhan’s first offshore issue of a Basel III-compliant
Tier 2
instrument. Fitch expects the notes to have an issue size of
USD500m and a tenor
of 10 years. Shinhan will use the proceeds to strengthen its
Tier 2 regulatory
capital position and for general corporate purposes. The notes
will be issued
under Shinhan’s USD6bn global medium term note programme, last
updated on 15
March 2016. The final rating is contingent upon the receipt…
Read the full article at: http://www.reuters.com/article/idUSFit952376