UPDATE 1-Volkswagen plans second true sale car ABS -source

Newswire

(Adds details in paragraphs 3-6) LONDON, Aug 16 (Reuters) - Volkswagen Bank plans to sell a 956 million euro ($1.18 billion) German car loan backed bond, its second true sale asset-backed securitisation, in early September, a source close to the deal said on Tuesday. The finance unit of German car maker Volkswagen sold Germany's first true sale securitisation last November, which raised capital markets funding and reduced balance sheet risk in one go. In Germany, banks have ...

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