Post by Hyundai Capital Bank Europe

“The most important thing in this world is not where we stand, but in what direction we are moving.”   Hyundai Capital Bank Europe continues to deliver on its promises to the debt capital markets. By delivering its fourth successful public Auto ABS using our Hyundai and Kia car loan book, HCBE has become a trusted issuer in the marketplace, as the bank continues to diversify its funding base with a strong focus on cost. The books opened for Pony 26-01, an SRT transaction, on Monday 16th February with IPTs at 1m€+L50s, and the books filled quickly across the entire stack. With 2.1x coverage in the senior tranches and up to 6.5x coverage in the junior tranches, we were able to tighten our pricing to 1m€+48bps for the Class A notes - a record level for HCBE! In conclusion, we issued a total of €600 million in notes for PGAL 26-01, which is a highly satisfactory result. As always, this would not have been possible without the support of our internal and external partners. We would therefore like to say a massive thank you to Adolfo R., Carl Baker, Tina Dai-Wiegel, Martin Steffen Luding and Juan Francisco García Serrano for their unstinting support, as well as to our arranger, JLM, and our structurer, Santander Consumer Germany. We would also like to thank our lawyers, Ashurst and Hogan Lovells, and our banks, #SCIB, #Unicredit and #CIC. #captive #funding #capitalmarket #treasury #teamwork #financialservices #automotive #captivebusiness #captivebank