VW pushing 3x as investors climb on fresh bonds

Rush_230px
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 ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial