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 the underling...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222