Hyundai hits market with $500 million benchmark deal

Hyundai Motor Company aggressively prices a five-year $500 million benchmark deal amid a global downturn in the auto industry.

Hyundai Motor Company yesterday raised $500 million from the sale of five-year bonds. The notes were issued by Hyundai Motor Manufacturing Czech with the parent, Hyundai Motor Company, as guarantor to the sale.

The Reg-S144A senior unsecured fixed-rate notes paid a coupon of 4.5% and were re-offered at 99.699 to yield 4.568%. The maturity date has been set to April 15, 2015.

The bookrunners went out with a price...

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