Hyundai Capital unwraps ABS for Asian investors

StanChart sells second deal in under a year for Korean car-makers'' finance arm.

Investors have snapped up Hyundai Capital's $300 million auto-loan securitization. The company is a subsidiary of Hyundai Motors and the first in Korea to sell a deal of this kind without the need for a monoline insurer.

The bonds are split into two $150 million tranches the class A1 notes, with an expected maturity date of June 2005, a legal maturity of October 2008 and a weighted average life of 0.55 years, and the class A2...

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