Report: Hyundai set to offer $1.17b in bonds backed by car loans
Filed under: Hyundai, Earnings/Financials
Hyundai is joining Ford and Ally Bank in this year’s crop of auto industry bond issuances. In four tranches Hyundai will sell $1.17 billion in securities backed by car loans, with Barclays Capital, Bank of America Merrill Lynch and Societe Generale handling the issue. Although now is usually a quiet time for such transactions, the ability to get investors’ attention, lower risk and better rates for debts backed by consumer loans have been cited as reasons for such forays into the market. We really hope they’ll use a little of it to make a sequel the Hyundai Steel video.
[Source: Bloomberg]
Report: Hyundai set to offer $1.17b in bonds backed by car loans originally appeared on Autoblog on Thu, 19 Aug 2010 08:01:00 EST. Please see our terms for use of feeds.
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