April 5, 2017 / 8:02 AM / 7 months ago

Volkswagen marketing sterling dual-tranche bond deal

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

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