By Aleesia Forni
Virginia Beach, Nov. 12 – Volkswagen Group of America Finance, LLC priced $2 billion of senior notes (A3/A/) in three tranches on Wednesday, according to a market source.
There was $500 million of three-year floaters priced at par to yield Libor plus 44 basis points.
A $750 million tranche of 1.6% notes due 2017 priced at 99.933 to yield 1.623%, or Treasuries plus 65 bps.
Finally, $750 million of 2.45% notes due 2019 priced at 99.776 to yield 2.498%, or Treasuries plus 85 bps.
The bookrunners for the Rule 144A and Regulation S deal were Barclays, HSBC Securities (USA) Inc., J.P. Morgan Securities LLC and Mizuho Securities.
The company is a subsidiary of Volkswagen AG, a Wolfsburg, Germany-based automaker.
| Issuer: | Volkswagen Group of America Finance LLC
|
| Issue: | Senior notes
|
| Amount: | $2 billion
|
| Bookrunners: | Barclays, HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, Mizuho Securities
|
| Trade date: | Nov. 12
|
| Settlement date: | Nov. 20
|
| Ratings: | Moody’s: A3
|
| Standard & Poor’s: A
|
| Distribution: | Rule 144A, Regulation S
|
|
|
| Three-year floaters
|
| Amount: | $500 million
|
| Maturity: | Nov. 20, 2017
|
| Coupon: | Libor plus 44 bps
|
| Price: | Par
|
| Yield: | Libor plus 44 bps
|
|
|
| Three-year notes
|
| Amount: | $750 million
|
| Maturity: | Nov. 20, 2017
|
| Coupon: | 1.6%
|
| Price: | 99.933
|
| Yield: | 1.623%
|
| Spread: | Treasuries plus 65 bps
|
|
|
| Five-year notes
|
| Amount: | $750 million
|
| Maturity: | Nov. 20, 2019
|
| Coupon: | 2.45%
|
| Price: | 99.776
|
| Yield: | 2.498%
|
| Spread: | Treasuries plus 85 bps
|
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