Hyundai Capital America's "Top Treasury Team" Leads Company to $40 Billion Milestone

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Jun 29, 2015, 04:10 ET

IRVINE, Calif., June 29, 2015 /PRNewswire/ -- Hyundai Capital America (HCA), a top-10 U.S. captive auto finance company that does business as Hyundai Motor Finance and Kia Motors Finance, is pleased to congratulate its Treasury department on being recognized as the 2015 Top Treasury Team by leading trade publication Treasury Today in their annual Adam Smith Awards celebration on June 18. The department was recognized for demonstrating best practices, innovation, collaboration, and outstanding contributions to the company.

The award comes in the same month HCA's Treasury department led the company to a significant funding milestone—$40 billion in term debt cumulatively raised since 1993 to support Hyundai and Kia U.S. vehicle sales.

On June 10, HCA completed its 46th capital markets transaction (corporate bonds and asset backed securities [ABS]). The $748 million lease ABS transaction brought the company total to over $40 billion in cumulative financing raised since it first entered the capital markets over 22 years ago.

Over the years, HCA has judiciously diversified its funding sources by establishing lease and floorplan asset-backed platforms, commercial paper and corporate bond issuance programs in addition to global syndicated banking facilities.

However, the broader funding platform has scaled rapidly since 2011 to meet the requirements of HCA's growing book of business. Most recently, HCA expanded its commercial paper program and established a Medium-Term Note platform to continue its efforts to improve liquidity while maintaining low borrowing costs to help customer financing.

In early 2015, Standard & Poor's upgraded HCA's long-term credit rating to A- (stable), recognition of parent Hyundai Motor Company's strong credit profile and HCA's strategic value.

"It gives me great pleasure to see our Treasury team be recognized for their contributions to HCA's success," said Randy Park, HCA's chief financial officer who has been with the company since 1991. "Our treasury function has been instrumental in driving the explosive growth of our business, especially over the past four years."

HCA has issued more term debt in the past four years than in the previous 18 years combined, supporting HCA's strong growth in auto originations. During this time, the department strategically hired and trained to increase the company's expertise in key areas. This helped HCA transform its treasury capabilities and drive successful funding diversification, enhanced liquidity, new funding instruments, reduced counterparty exposure, and strengthened exposure management and operational governance.

"Receiving this year's award for Top Treasury Team is truly an honor for us at Hyundai Capital America, especially considering the premier caliber of the Adam Smith participants and the industry forum created by the Treasury Today magazine," said Eric Senay, HCA's vice president and head of Treasury. "While our young team is humbled by the recognition, it is a nice validation of the tremendous work we've done over the past few years building the increased capability to help the business achieve its goals, and drive sustainable growth."

ABOUT HYUNDAI CAPITAL AMERICA
Headquartered in Irvine, CA, Hyundai Capital America is a top-10 U.S. auto finance company supporting the financial services needs of Hyundai Motor America and Kia Motors America. Through the Hyundai Motor Finance® and Kia Motors Finance® brands, the company provides financial products to Hyundai and Kia dealerships nationwide, including dealer inventory and facility financing, as well as indirect vehicle financing for retail and lease customers. Through its subsidiary, Hyundai Protection Plan, the company offers vehicle service contracts and other vehicle protection products under the Hyundai Protection Plan™ and Power Protect® brands. As of 2015, the company serves over 1.4 million customers and over 1,500 dealers nationwide, and has over $25 billion in assets. In addition to its three offices in Irvine, CA, Hyundai Capital America has operations centers in Atlanta and Dallas.

Kia Motors Finance is the registered trademark of Kia Motors America, Inc. and is used with permission.

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SOURCE Hyundai Capital America