New Issue: South Korea's Hyundai Card sells $400 million three-year notes at Libor plus 43 bps

By Reshmi Basu

New York, April 26 - Hyundai Card Co., Ltd. (/BBB/BBB+) sold a $400 million offering of three-year floating-rate notes at par to yield Libor plus 43 basis points, according to a market source.

The deal came at the tight end of talk, which was set at 43 to 45 bps more than Libor.

Barclays Capital, Morgan Stanley, Royal Bank of Scotland and UBS Investment Bank were lead managers for the Regulation S transaction.

Seoul-based Hyundai Card is the credit card unit of Hyundai Motor.

Issuer:	Hyundai Card Co., Ltd.
Amount:	$400 million
Issue:	Floating-rate notes
Maturity:	May 3, 2010
Coupon:	Three-month Libor plus 43 bps
Issue price:	Par
Yield:	Three-month Libor plus 43 bps
Lead managers:	Barclays Capital, Morgan Stanley, Royal Bank of Scotland, UBS Investment Bank
Pricing date:	April 26
Settlement date:	May 3
Distribution:	Regulation S
Ratings:	Standard & Poor's: BBB
	Fitch: BBB+
Price guidance:	Libor plus 43 to 45 bps

© 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.