Hyundai Capital Issues Samurai Bonds Worth 20 Billion Yen in Japan
Focus on Japan's ultra-low interest rates maintained... "Will diversify funding portfolio"
[Asia Economy Reporter Yu Je-hoon] Hyundai Capital announced on the 26th that it has issued Samurai bonds (yen-denominated bonds) worth 20 billion yen (approximately 193 billion KRW) in Japan.
The Samurai bonds issued by Hyundai Capital this time are "Triple Tranche" bonds with maturities of 1 year 6 months, 2 years, and 3 years. The scale is 4.5 billion yen for the 1 year 6 months maturity bond, 9.5 billion yen for the 2-year maturity, and 6 billion yen for the 3-year maturity. The local issuance interest rates were set at 0.98% (1 year 6 months), 1.05% (2 years), and 1.21% (3 years). This Samurai bond issuance was conducted privately, with SMBC Nikko Securities and KB Securities participating as joint lead managers.
Hyundai Capital focused on the Japanese market, which maintains ultra-low interest rates despite the recent sharp rise in funding rates in domestic and international bond markets, achieving local issuance interest rates in the 0-1% range. Hyundai Capital, which succeeded in issuing Samurai bonds for the first time among domestic private companies in 2005, has since issued Samurai bonds 10 times.
In particular, Hyundai Capital has built friendly relationships and increased trust by continuously conducting IR events and roadshows targeting Japanese investors. Last month, Hyundai Capital also held a face-to-face Non-Deal Roadshow (NDR) in Japan for the first time in three years.
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A Hyundai Capital official said, "Due to political conflicts between Korea and Japan, the issuance of Samurai bonds by Korean companies has been rare over the past three years, but Hyundai Capital has reopened the door to the Samurai bond market and succeeded in issuing bonds." He added, "Hyundai Capital operates internal liquidity guidelines conservatively and is diversifying its domestic and international funding portfolio to enhance funding stability."
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