LONDON, April 5 (IFR) - Volkswagen Financial Services is marketing a dual-tranche sterling-denominated benchmark bond deal, according to a source.
Initial price thoughts for the four-year tranche are UKT plus 135bp and for the eight-year piece UKT+155bp.
Bookrunners are Barclays, Goldman Sachs and HSBC.
The deal is expected to price later today.
The issuer is rated A2/BBB+ by Moody's and S&P.
The upcoming deal will follow Volkswagen International Finance's four-tranche €8bn deal issued last month.
Reporting By Laura Benitez; editing by Sudip Roy