By Reshmi Basu
New York, Nov. 17 - Hyundai Capital Services Inc. sold an upsized $400 million offering of five-year bonds (Baa3/BBB) at 99.69 with a 5½% coupon to yield 5.572%, or 113 basis points over Treasuries, according to a market source.
The size of the issue was increased from $300 million due to excess demand.
JP Morgan, Merrill Lynch and UBS Investment Bank managed the Regulation S offering.
The Seoul-based provider of credit financial services, owned by car maker Hyundai Motors, will use the proceeds for general working capital purposes.
| Issuer: | Hyundai Capital Services Inc.
|
| Amount: | $400 million
|
| Security description: | Bonds
|
| Maturity: | Nov. 17, 2010
|
| Coupon: | 5½%
|
| Issue price: | 99.69
|
| Yield: | 5.572%
|
| Spread: | Treasuries plus 113 basis points
|
| Pricing date: | Nov. 17
|
| Settlement date: | Nov. 23
|
| Lead managers: | JP Morgan, Merrill Lynch and UBS Investment Bank
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
