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LeasePlan Australia launches A$ 3-year FRN

Wed Mar 21, 2007 11:24pm EDT

Stocks

    
 (For the latest Australia and New Zealand bond news, click on
[AU/CRD] and then double click on the ID number)
 SYDNEY, March 22 (Reuters) - LeasePlan Australia has
launched an A$ 3-year floating rate note at 25 basis points
over BBSW, a joint lead said on Thursday.
 NabCapital and Westpac Institutional Bank are joint leads.
 Pricing is expected on Friday and the issue size was not
available.
 LeasePlan Australia is a subsidiary of Dutch car leasing
company LeasePlan Corporation which in turn is 50 percent-owned
by Volkswagen (VOWG.DE).
 Its bonds are guaranteed by LeasePlan Corp. N.V.
 It is rated A by S&P and A3 by Moody's.
 ($1=A$1.24)

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