Hyundai Capital closes auto loans ABS

Korean company comes to market with $160.1 million issue via JPMorgan.

The Korean consumer finance company, has completed its first ever cross-border securitization and international financing with a $160 1 million deal backed by auto loans JPMorgan acted as sole lead manager on the transaction, which is also the first international ex-Japan Asia securitization of 2002

Launched through the Hyundai Capital Auto Funding special purpose vehicle (SPV), the deal securitizes a portfolio of over 40,000 loans for new passenger cars and trucks originated by Hyundai The outstanding principal balance on the pool is approximately $233 4 million, with a weighted average interest rate of 9 93% and weighted average seasoning of 6 44 months

The structure used on the deal is fairly standard In terms of...

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