Shinhan Card Issues 250 Million Dollar Overseas ABS

Shinhan Card announced on the 27th that it has successfully issued overseas asset-backed securities (ABS) worth 250 million dollars.

This ABS was fully subscribed by Societe Generale as a sole investor, enabling Shinhan Card to secure large-scale liquidity amid heightened volatility in financial markets.

The underlying assets of the ABS are credit card receivables, and the average maturity is 3 years and 6 months. Shinhan Card plans to use the funds raised to repay existing borrowings and as working capital.

Based on its strong external creditworthiness and high-quality asset portfolio, Shinhan Card successfully raised a total of 700 million dollars last year through overseas syndicated loans and overseas ABS issuance.

A Shinhan Card official stated, "This overseas ABS issuance is highly significant in that it stabilized funding through overseas financing at a time when volatility in the domestic bond market is increasing," adding, "We expect that, going forward, continuous overseas financing will diversify our funding markets and, by securing stable liquidity, reduce our dependence on domestic funding."