Crédit Agricole CIB acted as joint bookrunner and sole sustainability agent for Hyundai Capital America’s inaugural green bond issuance, a two-year, $750 million senior unsecured note as part of a $3 billion multi-tranche offering. The transaction is intended to support Hyundai Capital America’s zero-emission vehicle expansion and 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,” Sherry Xu, director of debt capital markets at Crédit Agricole CIB, said. “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.”
