FRANKFURT, June 23 (Reuters) - Europe's biggest carmaker Volkswagen AG plans to issue a benchmark bond this year, a spokesman said on Wednesday. The spokesman added the company was cautious about the timing of the issue because of a recent credit rating downgrade from Standard & Poor's agency. Market sources said the bond volume would be in the region of at least one billion euros ($1.21 billion) and have a maturity of around seven years.
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