Shinhan Financial Group Co (SHG) has released an update.
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Shinhan Financial Group has announced their board’s decision to issue KRW-denominated Write-down Contingent Capital Securities to meet Basel III capital requirements. The issuance is set at KRW 270 billion, with the option for adjustment up to KRW 400 billion, featuring perpetual maturity and a call option after five years. These securities are designed to bolster the company’s capital structure and will be written off if the company is deemed insolvent.
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