UPDATE 1-Shinhan to sell dlr bond at lower spread-sources

(Adds change in price guidance, amount)

HONG KONG, March 8 (Reuters) - South Korea's Shinhan Bank now plans to sell 5.5-year dollar bonds at 205-215 basis points over U.S. Treasuries versus the earlier indication of 215-225 bps above, sources close to the deal said on Monday.

The bonds, maturing in Sept. 2015, will raise between $500 million and $700 million, the sources said.

The deal, which will be priced in the new range, could be priced later in the day, they said.

Bank of America Merrill Lynch (BAC.N), BNP Paribas, Citigroup (C.N), Deutsche Bank (DBKGn.DE), Morgan Stanley (MS.N) and Shinhan Investment Corp are the joint lead managers and bookrunners to the issue. (Reporting by Jun Ebias and Umesh Desai; Editing by Chris Lewis and Jon Loades-Carter)