S.Korea's Shinhan eyes global debt issue -sources

HONG KONG, June 1 (Reuters) - Shinhan Bank will meet investors this week with an eye for a potential global debt sale, two sources familiar with the plan said of what could become the latest issuance this year from a South Korean lender.

Shinhan had hired Bank of America-Merrill Lynch and HSBC (HSBA.L) (0005.HK) for a non-deal roadshow in Asia and the United States, said one of the sources, who declined to be identified because the plans have not been formally announced.

Despite the name, issuers traditionally use non-deal roadshows to gauge demand for a potential issuance. No details of which locations Shinhan planned to visit were immediately available.

Shinhan Bank, part of Shinhan Financial Group (055550.KS), is considering various fundraising alternatives for the year.

South Korea's second-biggest lender last week said it would raise 700 billion won ($559.4 million) in an equity-type bond issuance to be sold between May 28 and June 5, according to a regulatory filing. [ID:nSEL000629]

Shinhan has also been widely touted as looking at a potential global sale of residential mortgage backed securities.

South Korean banks, including Industrial Bank of Korea (024110.KS) and Hana Bank, have already been active in raising money from overseas debt markets this year.

Top-ranked Kookmin Bank became last month the first Asian issuer outside of Japan to sell covered bonds, raising $1 billion from the deal.

Shinhan is rated "A2" by Moody's Investors Service, or the sixth-highest investment grade rating, and an equivalent "A" by Fitch Ratings. Standard & Poor's has rated Shinhan one notch below that at "A-minus". (Reporting by Rafael Nam; Editing by Chris Lewis)