secwatch / observer

8-K filed March 20, 2024, 7:59 PM ET CIK 0001260125

other material confidence high sentiment neutral materiality 0.50

Hyundai Capital America securitizes $1.81B auto receivables via Hyundai Auto Receivables Trust 2024-A

HYUNDAI ABS FUNDING LLC

Closed $1,812,800,084.97 retail installment sale contracts on new/used autos, trucks, and minivans into a trust.
Notes issued in Classes A-1, A-2-A, A-2-B, A-3, A-4, B, and C; registered under Securities Act on Form SF-3.
Receivables Purchase, Sale and Servicing, Indenture, Trust, and Asset Representations Review agreements executed on March 20, 2024.
Hyundai Capital America acts as seller and servicer; Citibank, N.A. as indenture trustee; U.S. Bank Trust as owner trustee.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

HYUNDAI ABS FUNDING LLC entered into Indenture with Citibank, N.A. valued at Issuance of Class A-1, A-2-A, A-2-B, A-3, A-4, B, and C Notes (effective 2024-03-20).

Action: entry
Agreement: notes offering
Counterparty: Citibank, N.A.
Value: Issuance of Class A-1, A-2-A, A-2-B, A-3, A-4, B, and C Notes
Effective: 2024-03-20

Exact text from the filing

y and among the Trust, HABS, as depositor, HCA, as seller and servicer, and Citibank, N.A. (the “Indenture Trustee”), pursuant to which the Receivables and related property were transferred to the Trust.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

HYUNDAI ABS FUNDING LLC entered into Asset Representations Review Agreement with Clayton Fixed Income Services LLC valued at Review of certain representations relating to the Receivables (effective 2024-03-20).

Action: entry
Counterparty: Clayton Fixed Income Services LLC
Value: Review of certain representations relating to the Receivables
Effective: 2024-03-20

Exact text from the filing

Asset Representations Review Agreement among the Trust, HCA, as servicer, and Clayton Fixed Income Services LLC, as asset representations reviewer, relating to the review of certain representations relating to the Receivables.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

HYUNDAI ABS FUNDING LLC entered into Amended and Restated Trust Agreement with U.S. Bank Trust National Association valued at Amendment and restatement of Trust Agreement to create Hyundai Auto Receivables Trust 2024-A (effective 2024-03-20).

Action: entry
Counterparty: U.S. Bank Trust National Association
Value: Amendment and restatement of Trust Agreement to create Hyundai Auto Receivables Trust 2024-A
Effective: 2024-03-20

Exact text from the filing

Amended and Restated Trust Agreement, by and among HABS, U.S. Bank Trust National Association (the “Owner Trustee”) and HCA which amended and restated the Trust Agreement, dated as of December 14, 2023, pursuant to which Hyundai Auto Receivables Trust 2024-A (the “Trust”) was created.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

HYUNDAI ABS FUNDING LLC entered into Owner Trust Administration Agreement with HCA valued at Provision by HCA of certain services relating to the Notes (effective 2024-03-20).

Action: entry
Agreement: notes offering
Counterparty: HCA
Value: Provision by HCA of certain services relating to the Notes
Effective: 2024-03-20

Exact text from the filing

Owner Trust Administration Agreement, by and among the Trust, HCA, as administrator and the Indenture Trustee, relating to the provision by HCA of certain services relating to the Notes.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

HYUNDAI ABS FUNDING LLC entered into Receivables Purchase Agreement with HCA valued at Transfer of certain retail installment sale contracts and related property (effective 2024-03-20).

Action: entry
Counterparty: HCA
Value: Transfer of certain retail installment sale contracts and related property
Effective: 2024-03-20

Exact text from the filing

Receivables Purchase Agreement, between Hyundai ABS Funding, LLC (“HABS”) and HCA, pursuant to which HCA transferred to HABS certain retail installment sale contracts relating to certain new and used automobiles, light-duty trucks and minivans (the “Receivables”) and related property.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

HYUNDAI ABS FUNDING LLC entered into Sale and Servicing Agreement with Citibank, N.A. valued at Transfer of Receivables and related property to the Trust (effective 2024-03-20).

Action: entry
Agreement: notes offering
Counterparty: Citibank, N.A.
Value: Transfer of Receivables and related property to the Trust
Effective: 2024-03-20

Exact text from the filing

Sale and Servicing Agreement, by and among the Trust, HABS, as depositor, HCA, as seller and servicer, and Citibank, N.A. (the “Indenture Trustee”), pursuant to which the Receivables and related property were transferred to the Trust.

View on SEC.gov

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Source: SEC EDGAR

accession 0001104659-24-036642

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