Shinhan Card headquarters view

Shinhan Card announced on the 24th that it has successfully procured a syndicated loan worth $300 million (approximately 415.7 billion won). A syndicated loan is a type of loan in which two or more banks form a lending consortium to lend a certain amount under common conditions.

This syndicated loan involved a total of 14 banks, including the lead manager HSBC, Hang Seng Bank, OCBC Bank, and Shin Kong Central Bank from Taiwan and China, participating as the lending group. The loan terms were confirmed at a level of 0.70 percentage points for the 3-year term and 0.80 percentage points for the 5-year term added to the U.S. risk-free rate (RFR) SOFR.

Shinhan Card explained that despite high volatility in domestic and international markets, it secured large-scale liquidity at a lower interest rate compared to domestic procurement rates. Shinhan Card plans to use the funds procured this time for repaying existing borrowing funds and for operational expenses.

A Shinhan Card official noted, "This overseas syndicated loan is significant in that it has secured new overseas procurement sources," and stated, "We will continue to strive to build a stable procurement environment."