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Hyundai Card issues W450b green bondsBy Kim Young-won
Published : Sept. 10, 2020 - 18:00
Hyundai Card, the credit card company under automotive giant Hyundai Motor Group, said Thursday that it has issued 450 billion won ($379 million) in green bonds to fund alternative energy and environmental projects.
The won-denominated bonds that mature in one year and two months to 10 years are sold only to Korean institutional investors. The company issued the same bonds in August last year.
Proceeds from the green bonds will be used in providing financing for eco-friendly vehicles, such as electric, hydrogen-powered and hybrid cars manufactured by Hyundai Motor and Kia Motors.
Although credit card firms are not obligated to conduct a book building process, Hyundai Card has chosen to do so since last year to properly gauge demand and improve stability.
The bonds issued last year attracted 450 billion won -- double the company’s initial target.
By Kim Young-won (email@example.com)
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