SEOUL, Shinhan Bank, the flagship unit of South Korean financial holding company Shinhan Financial Group Co., said Tuesday it has raised US$500 million through selling dollar-denominated bonds.

The debts were issued at an interest rate of 1.4 percentage points above the U.S. Treasuries with a 10-year maturity, the bank said in a statement.

The proceeds from the bond sale will be mainly used to extend loans to socially vulnerable people, it said.

Source: Yonhap News Agency