VWFS pays NIP to win big bid for €1.7bn

By Jon Hay
27 Mar 2014

Volkswagen Financial Services jumped into the euro bond market on Tuesday for a big deal, raising €1.5bn in a sale that demonstrated its pragmatic approach to pricing and the stability of demand for Volkswagen’s paper.

Monday had been a rough day, with stocks falling 1.4% on fears about Russia and the Chinese economy. Investment grade deals, both high and low beta, still sold well, but the secondary market was a little choppy.

VW’s curve did not widen noticeably on Monday, but as a ...

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