Shinhan Bank sells US$99M worth of dimsum bonds

Shinhan Bank has raised 625 million yuan or US$99 million in so-called dimsum bonds to diversify its foreign currency debts.

The yuan-denominated bonds with a maturity of one-year have a yield of 2.5 percent, the lender said in a statement. The interest rate is lower than dimsum bonds floated by other foreign financial institutions with higher credit ratings than Shinhan, it added.

Shinhan, Korea's third largest lender, claimed it was the first Korean private lender to float dimsum bonds, which attracted six institutional investors.

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