Hyundai Capital: Leading $500 Million Bond Issuance with Paul Hastings Support
Deal News | Feb 05, 2025 | Paul Hastings
Paul Hastings LLP served as the international counsel for joint lead managers in Hyundai Capital Services Inc.'s issuance of US$500 million in 5.250% Senior Bonds due 2028, conducted under its US$10 billion Global Medium Term Note Program. The transaction reached completion on January 22, 2025, following the U.S. Securities Act Rule 144A and Regulation S, and was listed on the Singapore Exchange. The update of Hyundai's note program, concluded on January 8, 2025, provides long-term financial structuring for Hyundai's consumer finance operations worldwide. The bond issuance involved multiple financial institutions, including ING Bank, Merrill Lynch, and others, illustrating a collaborative international financial effort.
Sectors
- Financial Services
- Automotive
- Legal Services
Geography
- United States – The bond issuance was conducted under U.S. securities laws, indicating the relevance of the U.S. market in the transaction.
- Singapore – The senior bonds were listed on the Singapore Exchange, showing the transaction's connection to the Singaporean market.
- Korea – Hyundai Capital Services is a key financial entity in South Korea, serving as a primary auto financing provider for the Hyundai Motor Group.
Industry
- Financial Services – The article discusses Hyundai Capital Services, which provides consumer financial services, and the issuance of senior bonds. This involves both automotive financing and capital markets operations.
- Automotive – Hyundai Capital Services acts as the auto financing arm of Hyundai Motor Company and Kia Corporation, indicating its role within the automotive industry.
- Legal Services – Paul Hastings LLP provided legal advisory services for the bond issuance transaction, highlighting the involvement of the legal industry.
Financials
- US$500 Million – The size of the Senior Bond issuance by Hyundai Capital Services.
- 5.250% – The interest rate of the issued Senior Bonds.
- US$10 Billion – The total program size under which the bonds were issued.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Hyundai Capital Services Inc. | Issuer | Company | A prominent provider of consumer financial services, part of the Hyundai Motor Group, responsible for the $500 million bond issuance. |
| Paul Hastings LLP | International Counsel | Legal Firm | Served as the legal adviser for the joint lead managers in the bond issuance. |
| ING Bank N.V., Singapore Branch | Joint Lead Manager | Company | One of the financial institutions involved in managing the bond issuance process. |
| Merrill Lynch International | Joint Lead Manager | Company | Participated as one of the lead managers in the Hyundai bond transaction. |
| Mizuho Securities Asia Limited | Joint Lead Manager | Company | Part of the consortium of financial managers leading the bond issuance. |
| SMBC Nikko Securities (Hong Kong) Limited | Joint Lead Manager | Company | Contributed to the management of the Hyundai bond offering. |
| Socit Gnrale | Joint Lead Manager | Company | Engaged as one of the joint lead managers for the bond issuance. |
| Iksoo Kim | Corporate Partner | Person | Led the Paul Hastings legal team in the bond issuance transaction. |
| Sye Myung Kim | Associate | Person | Supported the legal advisory team at Paul Hastings. |
| David Park | Attorney | Person | Member of the legal team from Paul Hastings for the bond transaction. |