Hyundai Motor Finance Closes $600 Million Asset Backed Securitization

    FOUNTAIN VALLEY, Calif.--Aug. 29, 2001--Hyundai Motor Finance Co. today announced the closing of a $600 million asset securitization transaction backed by more than 45,000 automobile loans in the United States.
    The transaction was underwritten by JPMorgan with Bank of America Securities, Societe Generale, and Barclays Capital acting as co-managers.
    The transaction was divided into various classes to meet investor demand. The Class A bonds received a AAA rating by Standard & Poors, and Aaa by Moody's Investor Services, and carried a coupon of 3.53% to 4.47%. The subordinate classes were sold at coupons ranging from 5.23% to 6.25%.
    Hyundai Motor Finance Co. (S&P:2577Z-B) is a wholly owned subsidiary of Hyundai Motor Co. of the Republic of Korea (Bloomberg:0538.KS)(Reuters:05380.KS)(S&P:HYUDF). In addition to providing retail automobile loans to Hyundai purchasers in the United States, Hyundai Finance also provides lease financing and wholesale floorplan lines to Hyundai dealers.
    With this successful transaction, Hyundai Finance can continue to support the growing level of sales of Hyundai vehicles in the United States.