hyundai-capital-services-issues-fiveyear-eurobond

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.

“This is one of the cheapest BaaBBB credits in Korea. It’s a great story which investors are only now beginning to understand,” enthuses one source.

The coupon and...

¬ Haymarket Media Limited. All rights reserved.

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