VW Financial still popular in sterling

By Mike Turner
26 Nov 2019

Volkswagen Financial Services returned to the sterling bond market on Tuesday, after hitting the market twice over the summer.

The issuer, rated A3/BBB+, opened books for a five year deal at initial price thoughts of 165bp over Gilts via HSBC and NatWest Markets.  

The leads set price guidance of 155bp, plus or minus 3bp, with books above £800m.

Some demand fell off when the spread was set at 152bp, ...

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