Hyundai Capital issues green bonds under eco-friendly biz guidelines
Nan-Sae Bin
Mar 29, 2023 (Gmt+09:00)
South Korea's Hyundai Capital on Tuesday said it issued green bonds worth 600 billion won ($462.3 million) following K-Taxonomy, a series of government guidelines for economic activities deemed environmentally sustainable, in a first for a financial company in the country.
K-Taxonomy classifies which business operations of a company are eco-friendly activities for carbon neutrality. Since the Ministry of Environment's announcement of the guidelines in late 2021, related financial services have been included from this year.
Six brokerages -- KB Securities, Kyobo Securities Co., Mirae Asset Securities, Korea Investment & Securities, Hi Investment & Securities Co. and Kiwoom Securities --participated in the green bond issuance as a joint underwriting group.
Hyundai Capital raised the original issuance amount by 200 billion won given investor interest. Bond maturities are 20 billion won over two years, 100 billion won over two and a half, 70 billion won over three, 60 billion won over four and 350 billion won over five.