Korean consumer finance company Hyundai Capital last week sent out request for proposals (RFPs) for its latest cross-border ABS foray. Hyundai has invited banks to pitch on a $300 to $350 million equivalent auto loan securitization.
The deal, which may be sold in euros, will be the borrower's first offering this year. Although the exact make-up of the RFP list has not been released, most expect Calyon Securities, HSBC and Standard Chartered to be leading candidates. All three are extremely competitive on pricing Korean cross-border transactions.