Shinhan Bank, a South Korean lender, said Sunday it has raised 30 billion yen ($299 million) by selling bonds denominated in the Japanese currency.

Two-year, fixed-rate bonds worth 27 billion yen were priced to yield 0.83 percent or 50 basis points more than the yen-swap rate, while two-year floating rate notes worth 3 billion yen carry an interest of the three-month Yen Libor, or the three-month yen-based London Inter-bank Offered Rate, plus a 60 basis point spread, Shinhan Bank said. A basis point is 0.01 percentage point.

The yield of the yen-denominated bonds was approximately 25 basis points lower than that of two-year U.S. dollar-denominated bonds, the lender said.

The deal was co-arranged by two Japanese brokerage houses ― Mizuho Investors Securities Co. and Nomura Securities Co. ― and global investment banks Citibank and RBS, Shinhan Bank said. (Yonhap News)