Volkswagen looks to narrow spreads in further

By Graham Bippart
27 Apr 2015

Volkswagen is looking to grind primary the primary market spread offered on its twenty first German auto lease ABS from the VCL shelf, potentially beating its last lease ABS showing in the market by 7bp.

Leads Crédit Agricole and RBC Capital Markets have set a €724.5m size for the deal, with the €704.2 triple-A rated ‘A’ class at initial price thoughts of one month Euribor plus low 20bp area. The tranche is slightly longer than the similar class of bonds off ...

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