VW Bank sells Driver 1 auto loan bond -banker

Newswire

LONDON, Nov 24 (Reuters) - Volkswagen Bank late on Tuesday sold a 1.2 billion euro bond backed by auto loans, the debut deal on Germany's True Sale Initiative platform, a banker familiar with the sale said on Wednesday. The deal included 400 million euros of class A1 notes, rated triple-A by Moody's Investors Service and Fitch Ratings, with a weighted average life of 0.58 years, priced at par with a coupon of 6 basis points over one-month Euribor, the banker said. Further, there are 760 ...

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