Car firms dominate corporate traffic

Volkswagen Bank is in the market with a Eu500m two year bond. Bookrunners Deutsche Bank and ING have set guidance at 48bp-50bp over mid-swaps, and the books are said to have reached Eu900m. Meanwhile, Daimler will issue a two year benchmark fixed rate euro bond this week through Barclays Capital, BayernLB and Société Générale. Hypermarket operator Groupe Auchan has set guidance at mid-swaps plus high 50s for a Eu150m-Eu250m tap of its 5% April 2013 bonds. Natixis and Société Générale are the bookrunners. Read EuroWeek on Friday to find out how these issues performed.