Simpson Thacher, acting as sole international counsel, represented Citigroup Global Markets Inc., Crédit Agricole Corporate and Investment Bank, Merrill Lynch International, Société Générale, The Hongkong and Shanghai Banking Corporation Limited and Wells Fargo Securities, LLC, as dealers, in connection with the update of the US$8 billion Global Medium Term Note program of Shinhan Bank. In addition, Simpson Thacher, acting as sole international counsel, represented Citigroup Global Markets Inc., Crédit Agricole Corporate and Investment Bank, Merrill Lynch International, Société Générale, The Hongkong and Shanghai Banking Corporation Limited and Wells Fargo Securities, LLC, as joint managers, in connection with the offering of US$500 million 5.750% Basel III-Compliant Tier II Subordinated Mutual Growth Themed Social Notes due 2034 by Shinhan Bank under its Global Medium Term Note program. The offering constitutes a “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, William Son and Chanik Park (Corporate – Hong Kong); Jonathan Cantor and Shareef Salfity (Tax); and Jennie Getsin (Blue Sky).