Shinhan Card launches Ç300m securitization

Korea''s first euro-denominated cross-border securitization.

Shinhan Card has raised €300 million through the sale of bonds backed by a revolving pool of credit card receiveables, marking the first time that a Korean issuer has tapped the euro market. The bonds are arranged by BNP Paribas and placed privately through its Thesee conduit, which issues short-term asset-backed commercial paper in France.

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