Simpson Thacher, acting as sole international counsel, represented BNP Paribas, Crédit Agricole Corporate and Investment Bank, J.P. Morgan Securities plc and Merrill Lynch International, as dealers, in connection with the update of the US$6 billion Global Medium Term Note program of Shinhan Bank. In addition, Simpson Thacher, acting as sole international counsel, represented BNP Paribas, Crédit Agricole Corporate and Investment Bank, J.P. Morgan Securities plc, Merrill Lynch International, Mizuho Securities Asia Limited and Shinhan Investment Corp., as joint lead managers, in connection with the offering of US$400 million 4% Tier II Subordinated Notes due 2029 by Shinhan Bank under its Global Medium Term Note program. The offering marks Shinhan Bank’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 Bank is one of the leading commercial banks in Korea providing a wide range of commercial and other banking services to retail and corporate customers primarily in Korea and, to a lesser extent, in select overseas markets. Shinhan Bank is the flagship subsidiary of Shinhan Financial Group, one of the leading financial holding companies in Korea with shares listed on the Korea Exchange and the New York Stock Exchange.
The Simpson Thacher team for the transaction included Jin Hyuk Park, Joongwon Park and Heesu Kim (Corporate – Hong Kong); Sarah Julian Duffy (Tax); Jeanne M. Annarumma (ERISA); and Jennie Getsin (Blue Sky).