Visit Hyundai in your country/region
Font Size
Investors News

Guarantee of Debt Payment for Major shareholder

2005.03.25 No. 317
2. Details of Guaranteed Debt :
- Amount of guarantee concerned : KRW 0
- Contents of principal debts : Guarantee of execution of obligations and payments for liabilities of the supply of 54 electric railroad cars and electric generation system(approximatly EURO 350 million) relating to the supply bidding and contract with the Athens Subway Authority.
- Name of creditor : Bilfinger Berger Company
- Shareholder’s Equity as of end of 2003 : KRW 12,497,925,000,000
3. Decision Date (BOD Resolution Date) : March 25 , 2005
- attendance of outside directors : 2 out of 4
- attendance of auditors : 2 out of 3 (The Hyundai Motor audit committee is composed by all outside directors.)
4. Others:
- The above guarantee is a bidding precondition for the Athens Subway Authority.
(Germany’s Bilfinger Berger Company, the consortium leader, requested Hyundai Motor Company’s (the parent company of ROTEM) letter of guarantee as a condition for bidding participation.)
- The expected guarantee period upon bid acceptance
  : March 2005 ~ September 2015
    * Performance of Contract (6.5 years) and repair works (3 years) to total 9.5 years
    * Expected first bid date : April 15, 2005
- The above guarantee is only valid at the time of a sucessful bid, and the contents and period of guarantee are subject to change depending on the bidding schedule, related laws, and etc.

notice close