À̹ÌÁö È®´ë Hyundai Capital Services Inc., an auto financing unit under South Korean auto giant Hyundai Motor Group, will issue Korean won-denominated green bonds worth 200 billion won ($168.3 million) to fund green car financing service.
The company said Thursday that it will offer 50 billion won worth green bonds with two-year maturity at a coupon rate of 1.733 percent, 80 billion won bonds in three-year at 1.767 percent, and 70 billion won bonds in five-year at 1.897 percent. They were at least 6 basis points lower than the average corporate borrowing rates.
It is the second time for the company to issue local currency-denominated green bonds this year.
A green bond is a debt raised for environmentally-friendly projects.
The company said it will use the proceeds in financing service for its sister companies Hyundai Motor and Kia Motors¡¯ eco-friendly cars such as electric vehicles and hydrogen fuel cell cars.
Hyundai Motor Group¡¯s financial service units have been actively raising debts through environmental, social and governance-focused bonds. Hyundai Capital Service issued its first green bonds worth 300 billion won in April this year. In August, Hyundai Card sold 240 billion worth green bonds.
By Pulse
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