trending Market Intelligence /marketintelligence/en/news-insights/trending/gh3kwwbilqyrl_h3uhzqww2 content esgSubNav
In This List

Volkswagen Bank issues €2B in bonds

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


Volkswagen Bank issues €2B in bonds

Volkswagen Bank GmbH issued three tranches of bonds totaling €2 billion, the lender said June 5.

The first tranche amounts to €600 million, with a 3.25-year tenor. The notes carry a floating-rate coupon equivalent to the three-month euro interbank offered rate plus 0.700% and were issued at a 99.904% price.

The second tranche also amounts to €600 million, due in 3.5 years. The notes carry a fixed-rate 0.625% coupon and were sold at par.

The third was a six-year, €800 million tranche, with a fixed-rate 1.250% coupon. The bonds were sold at a 99.233% price.

The bank, a wholly owned unit of German car manufacturer Volkswagen AG, said the issuance was oversubscribed 2.5x, generating investor interest of about €5 billion, with asset managers taking up 80% of total orders.

Deutsche Bank, ING, Mizuho and NatWest Markets marketed the bonds.