Hyundai Capital Services issues five-year Eurobond

Korea's leading auto-financing company attracts massive interest in its bond, benefiting from an improvement in investor perception.

Hyundai Capital Services HCS, South Korea’s dominant supplier of auto finance, received a remarkably powerful response to its latest unsecured debt issuance which is part of the company's $2 billion global MTN programme.

Some $2.25 billion worth of orders were placed for the $400 million fixed-rate five-year issue. That demand helped push down the yield to mid-swaps plus 58 basis points, well inside the initial guidance range of mid-swaps plus 60-65bp.
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