Volkswagen plans 970 mln euro leasing ABS -agencies

Newswire

LONDON, May 24 (Reuters) - Volkswagen Leasing GmbH plans to sell an German auto lease receiveable-backed bond worth at least 970 million euros ($1.25 billion), two rating agencies said on Wednesday. Standard & Poor's said the bond sale for one of the largest leasing companies in Europe, is subject to a three-year revolving period. During that period, the principal collected can be used to reinvest in new loans to support the bonds, and will not be used to pay down notes. The agency ...

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