Hyundai Card, Seoul-headquartered credit card firm under Hyundai Motor Group, announced the issuance of a $500 million, US dollar-denominated Reg S bond in Asian and European markets. This marks the first time in 17 years that the firm has issued a US dollar bond.
The five-year uni-tranche note was priced at 135 basis points above the five-year US Treasury and 35 basis points lower than the initial price guidance, according to an April 19 press release from the firm.
Proceeds will be channelled towards general corporate purposes, a Hyundai Card spokesperson told FinanceAsia. The contact also said that the Reg S issuance comes naturally as...
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