VW, TeliaSonera round up busy day in IG
Volkswagen and TeliaSonera were the tip of the issuance iceberg on a busy day for investment grade corporates. The German carmaker sold a €2bn perpetual hybrid, while the Swedish-Finnish telco priced a €350m 20 year bond.
A3/A- rated Volkswagen was looking for a two-part euro benchmark deal and priced a €1.25bn perpetual non-call five and a €750m non-call 10 bond.
The deal came out of the blue, without investor meetings or calls.
Meanwhile, TeliaSonera priced its deal at the tight end of initial guidance at 85bp
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