HYUNDAI ABS FUNDING LLC Issues Asset-Backed Notes via Trust 2026-C

What Happened

• HYUNDAI ABS FUNDING LLC (HABS) filed an 8-K on Sept. 23, 2026 reporting entry into several material agreements in connection with the issuance and sale of a portion of Class A‑1, A‑2‑A, A‑2‑B, A‑3, A‑4, B and C notes. The notes were issued on the Closing Date, Sept. 23, 2026, and were described in a Final Prospectus dated Sept. 15, 2026.
• The transactions created Hyundai Auto Receivables Trust 2026‑C. Hyundai Capital America (HCA) transferred certain retail installment sale contracts (auto loans for new and used cars, light‑duty trucks and minivans) to HABS and ultimately to the Trust.

Key Details

• Agreements filed/entered on Closing Date: Receivables Purchase Agreement (HCA to HABS), Amended & Restated Trust Agreement establishing the Trust, Sale & Servicing Agreement (transferring receivables to the Trust), Indenture (issuing the Notes), Owner Trust Administration Agreement, and an Asset Representations Review Agreement with Clayton Fixed Income Services LLC.
• Notes classes involved: Class A‑1, Class A‑2‑A, Class A‑2‑B, Class A‑3, Class A‑4, Class B and Class C.
• Closing Date: September 23, 2026; Final Prospectus date: September 15, 2026.
• The offering is registered under the Securities Act via Form SF‑3 (Commission File No. 333‑284087).

Why It Matters

• This filing documents a securitization transaction: auto loans were pooled and sold into a trust and financed by issuing asset‑backed notes. For investors, that means new ABS securities backed by Hyundai‑originated auto receivables are now outstanding.
• The agreements and trust structure define payment priorities, servicing responsibilities, and review procedures — key legal mechanics that determine how cash flows from the underlying loans will be applied to noteholders.
• No financial amounts or credit enhancements are disclosed in the 8‑K; investors should consult the Final Prospectus and related offering documents for pricing, yields, and tranche‑specific risk details before considering investment.