Korea's Chohung Bank plans to issue $400 million 10-year notes

By Reshmi Basu

New York, Oct. 14 - Chohung Bank plans to issue a maximum $400 million of 10-year subordinated notes, according to a Securities and Exchange Commission filing.

The issue will be comprised of lower tier II and upper tier II subordinated notes with an optional redemption on the fifth anniversary of the issue date.

On Wednesday, Prospect New reported that Chohung Bank had mandated Citigroup and UBS Investment Bank to run the Rule 144A/Regulation S bond offering.

Chohung Bank, based in Seoul, South Korea, is a unit of Shinhan Financial Group.

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