LONDON, March 22 (IFR) - Volkswagen could return to the
European hybrid bond market in the second half of the year, the
company's head of group treasury said on an investor call on
Volkswagen International Finance began the call with bond
investors at 10:00am ahead of a potential senior unsecured bond
transaction on Thursday.
A euro-denominated multi-tranche benchmark, two-year
floater, four-year fixed, 6.5-year fixed and 10-year fixed
transaction is expected.
This will be the first test of investor appetite for a new
issue from Volkswagen since it was rocked by an emissions
scandal in September 2015.
The senior unsecured transaction will be issued on the basis
of a standalone prospectus, subject to market conditions.
Volkswagen, guaranteed by Volkswagen AG, is rated A3
(negative) by Moody's and BBB+ (negative) by S&P.
The German car maker has mandated Barclays, BNP Paribas,
Citigroup, Mizuho Securities, SG CIB and UniCredit to arrange
the investor calls.
(Reporting By Laura Benitez; editing by Sudip Roy)