1. Hyundai taps US dollar securitized bond market.
- Author
-
Evans, Jack
- Subjects
CORPORATE debt financing ,ASSET backed financing ,BOND market ,CORPORATE finance ,MONEY market - Abstract
The article informs that the fledgling U.S.-dollar asset-backed securities market in South Korea has been given a boost with the latest offering from one of the peninsula's corporate heavyweights. An arm of Hyundai launched a securitized bond deal late last month worth U.S. $762 million. The issuer, Hyundai Motor Finance Company, is a U.S.-based subsidiary of the Hyundai Motor conglomerate. The bond was issued to provide financing for sales of Hyundai automobiles in the U.S. and the deal was signed in California. The bank had cultivated the company for many years and has what it describes as a long-term relationship.
- Published
- 2002