VW China’s ABS prices after rising yields cause delay

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VW China’s ABS prices after rising yields cause delay

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The Volkswagen logo shines at the Volkswagen plant in the light tunnel for the final inspection in Wolfsburg, Germany, 25 February 2013. Photo: Jochen Lübke | Jochen Lübke/DPA/Press Association Images

Volkswagen Finance (China) wrapped up its third asset-backed securities (ABS) deal on Friday, raising Rmb3.5bn ($531.8m). The company was forced to extend bookbuilding into a second day amid rising bond yield in the Chinese market.

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