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Volkswagen Bank marketing three-tranche euro
December 6, 2017 / 9:33 AM / in 7 days

Volkswagen Bank marketing three-tranche euro

LONDON, Dec 6 (IFR) -

* 3.5yr FRN at 3mE+60/+65 for benchmark size, 5.5yr fixed at MS+70/+75 for exp EUR500m, 8yr fixed at MS+90/+95 for exp EUR500m. Pricing today. Due 15 Jun 2021, 15 Jun 2023, 15 Dec 2025, pay 15 Dec in all cased, off DIP, German law, Lux listing, 100k/1k denoms for the FRN, 1k/1k for the fixeds. 0% floor on the FRN. CMZ is B&D. (9:24am)

Volkswagen Bank GmbH (Ticker: VW; Country: DE), rated A3/BBB+ by Moody‘s/S&P, has mandated Commerzbank, DB, RBC CM and Santander for a three-part euro transaction with 3.5yr floating, 5.5yr fixed and 8yr fixed tranches. Format: eligible liabilities senior unsecured debt notes (senior non-preferred). (9:24am)

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