Crédit Agricole CIB Acted as Joint Bookrunner & Sole Sustainability Agent on Hyundai Capital America’s Inaugural Green Bond Issuance

NEW YORK--(BUSINESS WIRE)--Crédit Agricole CIB assisted Hyundai Capital America on preparing its Green Finance Framework and inaugural Green Bond issuance, a $750mm 2-year senior unsecured note as part of a $3bn multi-tranche offering. The transaction is intended to support Hyundai Capital America’s zero-emission* vehicle expansion and actively contribute to Hyundai Motor Group’s commitment to be carbon neutral across operations by 2045.

The Green Bond issuance provides for an amount equal to the net proceeds to be allocated to certain eligible green projects, including:

• Loans and other financial services for customers and dealers for purchasing, leasing and trading-in the following types of zero-emission vehicles:
  • Battery Electric Vehicles (BEV)
  • Fuel Cell Electric Vehicles (FCEV) running on low-carbon fuels such as hydrogen
  • Other future vehicles with zero tailpipe emissions
• Financing and operation of programs that increase consumer access to zero-emission vehicles listed above, such as Hyundai Evolve+
• Financing of projects related to the installation of vehicle charging infrastructure

“Crédit Agricole CIB was proud and honored to have partnered with Hyundai Capital America on its inaugural Green Bond offering as a Joint Bookrunner and Sole Sustainability Agent on its Green Finance Framework. The strong price tension we achieved was a testament to the investor community’s support for HCA and Hyundai Motor Group’s vision for a sustainable future,” says Sherry Xu, Director, Debt Capital Markets at Crédit Agricole CIB.

Hyundai Capital America (“HCA”) is the oldest and largest automotive finance subsidiary of Hyundai Motor Group (“HMG”). Founded in 1989 and based in Irvine, CA, HCA is a top 10 U.S. auto finance company supporting Hyundai, Kia and Genesis vehicle sales in the United States through a full spectrum of financing solutions for vehicle customers and dealers. HCA is 80% owned by Hyundai Motor America (a subsidiary of Hyundai Motor Company “HMC”), and 20% owned by Kia America, Inc. (a subsidiary of Kia Corporation “KC”).

*as defined in Hyundai Capital America’s Green Finance Framework

About Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB)

Crédit Agricole CIB is the corporate and investment banking arm of Credit Agricole Group, the 10th largest banking group worldwide in terms of balance sheet size (The Banker, July 2022). More than 8,900 employees across Europe, the Americas, Asia-Pacific, the Middle East and Africa support the Bank's clients, meeting their financial needs throughout the world. Crédit Agricole CIB offers its large corporate and institutional clients a range of products and services in capital markets activities, investment banking, structured finance, commercial banking and international trade. The Bank is a pioneer in the area of climate finance, and is currently a market leader in this segment with a complete offer for all its clients.

For many years Crédit Agricole CIB has been committed to sustainable development. The Bank was the first French bank to sign the Equator Principles in 2003. It has also been a pioneer in Green Bond markets with the arrangement of public transactions from 2012 for a wide array of issuers (supranational banks, corporates, local authorities, banks) and was one of the co-drafter of Green Bond Principles and of the Social Bond Guidance. Relying on the expertise of a dedicated sustainable banking team and on the strong support of all bankers, Crédit Agricole CIB is one of the most active banks in the Green Bond market.

For more information, please visit www.ca-cib.com