VW pushing 3x as investors climb on fresh bonds

By Tom Porter
21 Jan 2015

Starved investors have jumped on the first fresh European flow ABS supply of the year, pushing market stalwart Volkswagen Bank close to a three times subscription level for its market opening auto loan-backed transaction.

The €717m Driver Thirteen’s final terms were set on Wednesday morning, with pricing expected to take place later in the day.

The spread on the €691.5m triple-A two year Class A notes was set at 25bp over one month Euribor, in from initial price thoughts of high 20bp ...

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