(Corrects IPT level on NC10 tranche after erroneous lead communication)
By Sudip Roy
LONDON, June 7 (IFR) - Volkswagen has opened books on a dual-tranche euro hybrid bond, according to a lead.
The German carmaker has begun marketing a perpetual non-call 5.5-year at 3% area and a perpetual non-call 10-year at 4.125%-4.25%.
The deal is today's business. Bank of America Merrill Lynch (B&D), CA-CIB, Goldman Sachs, HSBC and MUFG are lead managers.
The bonds are expected to be rated Baa2 by Moody's and BBB- by S&P. The issuer is Volkswagen International Finance NV with Volkswagen AG acting as guarantor. The guarantor's senior ratings are A3/BBB+ (both negative outlook).
(Reporting by Sudip Roy, editing by Julian Baker)
Australia to seek greater powers on encrypted messaging at 'Five eyes' meeting
SYDNEY, June 25 Australia said on Sunday it will push for greater powers to tackle the use of encrypted messaging services used by terrorists and criminals at an upcoming meeting of ministers from the "Five Eyes" intelligence network.