Shinhan Financial Group’s $5 Billion Global Medium Term Notes Program Update and $500 Million Tier II Subordinated Notes Offering

Simpson Thacher represented the dealers in connection with the update of the US$5 billion Global Medium Term Note program of Shinhan Financial Group, and the joint lead managers in connection with the offering of US$500 million 3.34% Tier II Subordinated Notes by Shinhan Financial Group under its Global Medium Term Note program.

BNP Paribas, Citigroup Global Markets Inc., Credit Suisse (Hong Kong) Limited, The Hongkong and Shanghai Banking Corporation Limited, Merrill Lynch International, Shinhan Investment Corp. acted as dealers and joint lead managers in the deal.

This offering marks Shinhan Financial Group’s first “Sustainable Development Goals” bond offering. The offering was conducted in reliance upon Rule 144A and Regulation S under the U.S. Securities Act of 1933, as amended.

Shinhan Financial Group is one of the leading financial holding companies in Korea with principal operations in commercial banking, credit card services, securities brokerage and life insurance services and shares listed on the Korea Exchange and the New York Stock Exchange.

The Simpson Thacher team for the transaction included Jin Hyuk Park (Picture), Joongwon Park and Heesu Kim (Corporate – Hong Kong); Jonathan Cantor (Tax); Jeanne M. Annarumma (ERISA); and Jennie Getsin (Blue Sky).

Involved fees earner: Jonathan Cantor – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Heesu Kim – Simpson Thacher & Bartlett; Jin Hyuk Park – Simpson Thacher & Bartlett; Joongwon Park – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: BNP Paribas; Citigroup Global Markets Ltd; Credit Suisse; Merrill Lynch International; Shinhan Investment Corp; The Hongkong and Shanghai Banking Corporation Limited;

Author: Michael Patrini