Korea’s Hyundai Capital sees $1 billion of demand for notes offering

By Devika Patel

Knoxville, Tenn., Aug. 21 – Hyundai Capital Services Inc. has received more than $1 billion of demand for its benchmark Rule 144A and Regulation S offering of fixed-rate senior notes (expected Baa1/A-). The notes are being offered in five- and 10-year tranches, according to a market source.

The price guidance is in the 155 basis points over Treasuries area for the five-year notes and in the 170 bps over Treasuries area for the 10-year notes.

BofA Merrill Lynch will bill and deliver the notes.

BofA Merrill Lynch, BNP Paribas Securities Corp., Citigroup Global Markets Inc., DBS Bank Ltd. and MUFG are the bookrunners.

Hyundai Capital Services is a Seoul, South Korea-based unit of the Hyundai Motor Co.

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