LeasePlan Australia launches A$ 3-year FRN

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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)