On 21 September, Shinhan Bank (A+/Aa3/A) launched a new five-year, Kangaroo, Covid-19 alleviation social-bond transaction, offered in either or both fixed- and floating-rate note formats. Indicative price guidance for the deal, which is expected to price on the day after launch, is 100 basis points area over swap benchmarks. J.P. Morgan, Mizuho Securities and National Australia Bank are leading.