Shinhan Investment Expands "Commercial Paper" Offering to General Corporate Clients
Fixed-term Products with 3-Month to 1-Year Maturities
Pre-Tax Annual Interest Rates from 2.90% to 3.85%
On September 1, Shinhan Investment Corp. announced that it will expand the availability of the “Shinhan Premier Commercial Paper,” previously offered mainly to individual clients, to general corporate clients and will launch a new product exclusively for corporations.
The “Shinhan Premier Commercial Paper” is a security with a maturity of up to one year, directly issued by Shinhan Investment Corp., in which principal and interest are paid at maturity according to the agreed period and yield.
The newly introduced commercial paper for general corporations is designed to meet companies’ needs for short-term fund management and is available as a fixed-term product with maturities from three months to one year. The annual pre-tax interest rate ranges from 2.90% to 3.85%, depending on the chosen term, and investments can range from a minimum of 1 million won up to a maximum of 5 billion won. Shinhan Investment Corp. plans to issue a total amount of 140 billion won in September.
In line with the Shinhan Financial Group's initiative for productive finance, Shinhan Investment Corp. utilizes funds raised through commercial paper issuance to support corporate finance and venture capital investment. In particular, the company is expanding support for mid-sized companies, small and medium-sized enterprises (SMEs), and venture businesses by leveraging its group network and investment capabilities.
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Kwon Youngdae, Head of Investment Product Division at Shinhan Investment Corp., stated, “As the financial market environment changes, the need for fund management among corporate clients is becoming more diverse. We will continue to expand the range of products and services that corporations can utilize to meet their funding needs and investment purposes according to market conditions.”
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