The Volkswagen Group plans to sell up to 1.2bn (£1.02bn) in bonds to fund its vehicle finance arm, Volkswagen Financial Services (VWFS).
This is the second such large-scale issue by VW in seven months, following a similar sale in November 2012.
Go deeper with GlobalData
The new mandatory convertible notes have a coupon of 5.5% and will be offered at an issue price of 105.64% of their principle amount. These notes will be converted into preferred shares, without voting rights, when they mature on 9 November 2015.
VWFS posted increased global operating profits for 2012 and for Q1 2013.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
