Hyundai 2010 Annual Report Download - page 75

Company providing Amounts of Translation into
Consolidated Subsidiaries guarantee of indebtedness guarantee $ (Note 2)
Hyundai Rotem Company The Export-Import Bank of Korea SGD 6,409 5
TWD 31,870 1
CNY 69,820 11
OMR 9,997 25
EGP 15,000 3
TND 2,000 1
BRL 6,000 4
KRW 1,155 1,014
Korea Exchange Bank KRW 3,463 3,041
INR 6,287 1
USD 399 1
EUR 4,064 5
SGD 2,662 2
VND 9,633,725 1
BNP Paribas USD 7,620 8
ANZ Bank NZD 40,893 32
Hyundai Card Co., Ltd. Seoul Guarantee Insurance Company KRW 5,166 4,536
Hyundai WIA Corporation The Export-Import Bank of Korea USD 1,990,000 1,990
JPY 135,000,000 1,656
Shinhan Bank EUR 10,000,000 13,290
USD 428,500 429
Kookmin Bank EUR 3,728,400 4,955
USD 4,246,540 4,247
JPY 253,444,000 3,109
Woori Bank USD 4,424,831 4,425
Machinery Financial Cooperative KRW 75,756,640 66,517,376
Korea Defense Industry Association KRW 131,304,430 115,290,570
Seoul Guarantee Insurance Company KRW 38,755,169 34,028,597
Autoever Systems Corporation Seoul Guarantee Insurance Company KRW 1,241 1,090
Korea Software Financial Cooperative KRW 28,015 24,598
M & Soft Co., Ltd. Seoul Guarantee Insurance Company KRW 503 442
Hyundai Capital Services, Inc. Seoul Guarantee Insurance Company KRW 204,560 179,612
(continued)
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Hyundai Motor Company [in thousands of US$]
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December 31, 2010 and 2009
Company providing Amounts of Translation into
Consolidated Subsidiaries guarantee of indebtedness guarantee $ (Note 2)
Haevichi Country Club Co., Ltd. Seoul Guarantee Insurance Company KRW 151 133
Hyundai METIA Co., Ltd. Seoul Guarantee Insurance Company KRW 2,661 2,336
Kyungnam Bank JPY 700,000,000 8,587
(8) The Company made an agreement with its European sales subsidiaries and agents for them to be responsible for projected costs for dismantling and
recycling vehicles sold in corresponding countries to comply with European Parliament directive regarding End-of-Life vehicles (ELV).
(9) In 2006, the Company sold 10,658,367 shares of Hyundai Rotem Company to MSPE Metro Investment AB and entered into a shareholders’ agreement. MSPE
Metro Investment AB is entitled to put option to sell those shares back to the Company in certain events (as dened) in accordance with the agreement.
(10) Hyundai Capital Services, Inc., a domestic subsidiary of the Company, made a credit facility agreement on a US$ 1,000 million renewable one-year
revolving credit facility up to 3 years to be provided by General Electric Capital Corporation (the “GECC”) to Hyundai Capital Services, Inc. on January 13,
2009. Under the terms of such agreement, Hyundai Capital Services, Inc. shall pay commitment fee of 3M Euribor+631bp for the usage of facility and 28bp
for the remaining. Also, the maturity of individual draw-down is within 1 year from the time of withdrawal and in case of termination, the maturity for previous
withdrawals can be extended to 1 year from the time of termination. In addition, Hyundai Capital Services, Inc., GECC and the Company made a support
agreement on credit facility agreement on the same date of the credit facility agreement. According to the support agreement, when Hyundai Capital Services,
Inc. cannot redeem in a year after the withdrawal, GECC has the right of debt-to-equity swap for the relevant draw-down and has the put option that GECC
can sell converted stocks to the Company within the ownership of the Company. In this case, the amount which the Company pays to GECC is the amount of
withdrawal for debt-to-equity swap multiplied by the ownership of the Company. Also, the Company has the call option that it can buy converted stocks from
GECC on the same condition of put option when the GECC does not exercise the put option. According to the support agreement, Hyundai Capital Services,
Inc. will pay 15bp commission to the Company based on the amount on which the credit facility agreement was established multiplied by the ownership
percentage of the company.
Hyundai Motor Company [in thousands of US$]