Calyon Securities has secured the mandate for Hyundai Capital's return to the ABS market in what was said to be a fierce bidding war. The consumer finance company invited bids in January for a private-placement auto-loan deal from a select quartet of arrangers: Calyon, HSBC, ING and Standard Chartered.

A decision was expected in early March, with ING and Standard Chartered strongly favored by market observers. StanChart had arranged a $300 million deal of the same assets for the issuer in July 2004 while ING - after a barren couple of years in Asia - was known to be very competitive in terms of pricing.

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