Simpson Thacher, acting as sole international counsel, represented BNP Paribas, Crédit Agricole Corporate and Investment Bank, J.P. Morgan Securities plc, Mizuho Securities Asia Limited, Merrill Lynch International and Shinhan Investment Corp., as dealers, in connection with the update of the US$5 billion Global Medium Term Note program of Shinhan Financial Group. In addition, Simpson Thacher, acting as sole international counsel, represented BNP Paribas, Crédit Agricole Corporate and Investment Bank, J.P. Morgan Securities plc, Mizuho Securities USA LLC, Merrill Lynch International and Shinhan Investment Corp., as joint lead managers, in connection with the offering of US$500 million 1.35% Senior Notes due January 10, 2026 by Shinhan Financial Group under its Global Medium Term Note program. The bonds have been issued as “COVID-19 Resilience Social Bonds”, and Shinhan Financial Group intends to allocate the net proceeds from the offering to support small and medium-sized enterprises and underprivileged individuals affected by the COVID-19 pandemic. 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, Joongwon Park and Chanik Park (Corporate – Hong Kong); Jonathan Cantor and Zachary Fialkow (Tax); Jeanne M. Annarumma (ERISA); and Jennie Getsin (Blue Sky).