23rd Oct 2008 14:31
HYUNDAI MOTOR COMPANY (HMC)
Corporate Disclosure to Korea Stock Exchange
Disclosure date : October 23, 2008
Disclosure title : Other Matters to be Disclosed
- Hyundai Motor Company has decided to enter into the below support agreement for Hyundai Capital's credit enhancement.
1. Title : Decision on entering into support agreement
2. Contents :
a) Party concerned : Hyundai Motor Company, GE Capital, Hyundai Capital
b) Major contents
-GE Capital to provide credit line equivalent to 10 billion US dollar to Hyundai Capital. GE Capital has an option to convert its investment to equity if Hyundai Capital does not repay that credit line within one year after use.
-If GE Capital exercises the option to convert to equity, Hyundai Motor Company is obliged to participate in debt to equity conversion pro-rata to Hyundai Motor Company's current shares in Hyundai Capital.
-Planned Contract period : 3 years from January 2009
c) Others
-Hyundai Motor Company and GE Capital are major shareholders of Hyundai Capital.
3. Date of BOD decision : October 23, 2008
4. Others
a) The above contents, including the amount of credit line and the details of process may be subject to change depending on the related contract procedure of the above mentioned companies.
Related Shares:
Hyundai Mtr.gdr