Shinhan Financial's (KRX:055550) board approved the issuance of up to 270 billion won in domestic unregistered unsecured bail-in contingent capital securities on Thursday to enhance its capital adequacy ratio.

The perpetual securities feature a call option exercisable between five and 10 years from issuance, subject to approval from regulators, according to a bourse filing on Thursday.

The final issuance amount and interest rates will be determined based on future demand forecasting results within the 400 billion won board-approved limit.

The subscription and payment dates, along with the lead underwriter appointment, will be determined later based on market conditions and supervisory authority discussions.