Hyundai’s $300 Million Notes Offering

July 12, 2021

Cleary Gottlieb represented BofA Securities, Societe Generale CIB, and Standard Chartered Bank, as joint bookrunners and joint lead managers, in a Reg S offering of $300 million 1.625% guaranteed notes due 2026 issued by Hyundai Assan Otomotiv Sanayi ve Ticaret A.S. (HAOS) and guaranteed by Hyundai Motor Company.

The notes were listed on the Singapore Exchange. The offering priced on July 6, 2021, and closed on July 12, 2021.

Hyundai Motor Company is the largest automobile manufacturer in Korea and a Fortune Global 100 company, with a global market share of 5.3%. Hyundai Motor Company owns 97% of HAOS, a company established to construct and operate automotive vehicle production plants in Turkey. HAOS is the first overseas production facility that was established by Hyundai Motor Company, and it currently manufactures automotive vehicles for customers in the Turkish and European markets.