Hyundai Motor Securities Completes Financial Lead for Modular School Leasing Business
Hyundai Motor Securities announced on the 4th that it has carried out the financial lead role for the 'Modular School Leasing Project' under the Green Smart Future School initiative promoted by the Ministry of Education.
This financing was raised to a total of 25.5 billion KRW through five banks including Jeonbuk Bank and Daegu Bank, targeting modular assets (2,314 modules) owned by the project owner Daeseung Engineering and leased to various local education support offices, as well as modular lease receivables. Aegis Asset Management is acting as the agent institution.
Korea Ratings evaluated this financing as compliant with the Green Bond Principles and Social Bond Principles of the International Capital Market Association (ICMA), and awarded the highest grade of 'S1' in the social finance ESG (Environmental, Social, Governance) certification rating.
The Green Smart Future School project is a future-oriented school creation initiative by the Ministry of Education that renovates aging school buildings to improve classroom environments and equips them with digital environment-based teaching equipment to promote innovation in teaching and learning. Modular classrooms are standardized buildings (units) completed in factories with frameworks, finishing materials, mechanical and electrical facilities, transported to the site, and assembled and installed simply to complete the classroom. They are mainly used as temporary classrooms during school extension and remodeling construction periods for the Green Smart Future School project.
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Kim Tae-san, Executive Director and Head of IB1 Division at Hyundai Motor Securities, said, "As a result of continuously expanding investment opportunities in non-real estate sectors, we were able to complete this financing." He added, "We will continue to strengthen our securitization capabilities in corporate finance and discover business opportunities that can further enhance the meaning of ESG, such as high-quality social loans, to secure sustainable competitiveness."
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