ISIN.net news update profiles international car company based out of Germany, Volkswagen (ISIN Code: DE0007664039) priced a dual tranche deal on Tuesday, April 7, 2015. This update is courtesy of Reuters.
Following are terms and conditions of a dual tranche deal priced on Tuesday.
Borrower Volkswagen Financial Services AG
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Tranche 1
Issue Amount 500 million euro
Maturity Date October 16, 2017
Coupon 3-month Euribor + 25bp
Reoffer price Par
Discount Margin 3-month Euribor + 25bp
ISIN XS1216646825
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Tranche 2
Issue Amount 750 million euro
Maturity Date October 14, 2021
Coupon 0.75 pct
Reoffer price 99.938
Yield 0.76 pct
Spread 40 basis points
Underlying govt bond Over Mid-swaps
ISIN XS1216647716
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Common terms
Payment Date April 14, 2015
Lead Manager(s) Credit Agricole CIB, HSBC & UniCredit
Ratings A2 (Moody’s) & A (S&P)
Listing Lux
Full fees Undisclosed
Denoms (K) 1
Governing Law German
Notes Launched under issuer’s EMTN programme
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