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Baker McKenzie advised Hyundai Capital Bank Europe GmbH as a borrower in relation to a € 200 million loan ('covered loan agreement') provided by ING Bank, a branch of ING-DiBa AG (as arranger, original lender, security agent and facility agent) with Intertrust Trustees GmbH acting as data trustee to guarantee data protection.

Baker McKenzie advised Hyundai Capital Bank Europe GmbH on all legal aspects of the loan.

"The transaction is a great success for our client and for us. Together with our client, a well-rehearsed team and our extensive experience in the field of financing, in particular with covered loan agreements, we were able to successfully finalise the loan raising process“, comments Baker McKenzie Finance & Banking partner Kathrin Marchant on the transaction.

Hyundai Capital Bank Europe GmbH (HCBE), an auto finance company, provides financial products to meet the needs of Hyundai Motors and Kia Motors customers worldwide. It offers consulting and advisory services paired with tailored automotive financing solutions.

ING Wholesale Banking Germany comprises the corporate clients business of ING-DiBa AG and is part of the ING Group’s worldwide Wholesale Banking network with offices in more than 40 countries. ING Wholesale Banking offers banking services for large, internationally operating corporate clients. In addition to traditional banking products such as Corporate Lending and Transaction Services, ING is a world leading name in structured & project financing concepts, complemented by innovative capital market solutions. ING Wholesale Banking Germany has around 300 employees based in the headquarters Frankfurt am Main who were in charge of a credit volume of € 31 billion by the end of 2017.

The Banking & Finance-Team of Baker McKenzie regularly advises a large number of German and international financial institutions. Amongst the most recent clients are such institutions as the ING Bank, DZ Bank, LBBW, Commerzbank, BayernLB, Credit Suisse, MUFG, UBS, BNPP, DEKA, SCB, RBS.

Legal advisor to Hyundai Capital Bank Europe GmbH

Lead: Banking & Finance: Kathrin Marchant and Sandra Wittinghofer (both partners, Frankfurt)
Team: Banking & Finance: Marta Zuliamis (associate, Frankfurt)

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