By Cristal Cody
Tupelo, Miss., March 29 – Hyundai Capital America priced $1.1 billion of medium-term notes (Baa1/A-) in three tranches in a Rule 144A and Regulation S offering on Wednesday, according to a market source.
The company sold $200 million of three-year floating-rate notes at Libor plus 80 basis points.
Hyundai Capital America priced $400 million of 2.55% three-year fixed-rate notes at a spread of Treasuries plus 108 bps.
In the third tranche, the company sold $500 million of 3.1% five-year fixed-rate notes at a Treasuries plus 120 bps spread.
BofA Merrill Lynch, Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc. and Mizuho Securities USA Inc. were the bookrunners.
Hyundai Capital America is an Irvine, Calif.-based auto financing arm of the Hyundai Motor Co.
| Issuer: | Hyundai Capital America
|
| Amount: | $1.1 billion
|
| Securities: | Medium-term notes
|
| Bookrunners: | BofA Merrill Lynch, Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc. and Mizuho Securities USA Inc.
|
| Trade date: | March 29
|
| Ratings: | Moody’s: Baa1
|
| S&P: A-
|
| Distribution: | Rule 144A, Regulation S
|
|
|
| Three-year floaters
|
| Amount: | $200 million
|
| Maturity: | April 3, 2020
|
| Coupon: | Libor plus 80 bps
|
|
|
| Three-year notes
|
| Amount: | $400 million
|
| Maturity: | April 3, 2020
|
| Coupon: | 2.55%
|
| Spread: | Treasuries plus 108 bps
|
|
|
| Five-year notes
|
| Amount: | $500 million
|
| Maturity: | April 5, 2022
|
| Coupon: | 3.1%
|
| Spread: | Treasuries plus 120 bps
|
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