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Simpson Thacher, acting as sole international counsel, represented BNP Paribas, Crédit Agricole Corporate and Investment Bank, Credit Suisse Securities (Europe) Limited, The Hongkong and Shanghai Banking Corporation Limited and Société Générale, as joint lead managers, in connection with the offering of €500 million 0.25% Senior Unsecured Notes due 2024 by Shinhan Bank under its US$6 billion Global Medium Term Note program. This offering marks the first foreign currency-denominated green bond issuance by a Korean commercial bank. The offering was conducted in reliance upon 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 and Heesu Kim (Corporate – Hong Kong); and Abigail Hopper (Tax).