Shinhan Bank issues US$100 mln in bonds

SEOUL, May 11 (Yonhap) -- Shinhan Bank, South Korea's second-largest lender, said
Monday it has raised US$100 million by selling dollar-denominated bonds to repay
maturing debts.
The five-year debt carries an interest of 5.4 percent plus the London Interbank
Offered Rate, and was sold to a foreign investment bank, Shinhan said, without
disclosing the buyer's name.
The lender also said it has borrowed 35 billion yen ($355.8 million) for a
two-year term from a Japanese bank. Details on the loans' interest rate were not
available.
The borrowing came as South Korea's foreign currency funding conditions showed
positive signs of stabilization, Shinhan said in a statement.
The lender has secured nearly $500 million worth of medium-to-long term loans so
far this month, it said.
The money will be used to redeem maturing foreign loans and service trade
financing to local companies.
pbr@yna.co.kr
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