Aries Vermogensverwaltungs issues talk on three-part asset-backed deal

By Paul A. Harris

St. Louis, June 28 - Price talk emerged Monday on the Aries Vermogensverwaltungs GmbH $250 million and €250 million three-part asset-backed bond deal (Ba2/BB+), according to a market source.

Price talk on a tranche of euro-denominated three-year floating rate notes is six-month Euribor plus 300 to 325 basis points.

Meanwhile on the two fixed rate tranches, talk is 7¾% to 8% on a tranche of euro-denominated five-year fixed-rate notes and 9¾% to 10% on the dollar-denominated 10-year fixed-rate notes.

Tranche sizes remain to be determined.

Deutsche Bank Securities and Goldman Sachs & Co. have the books for the Rule 144A/Regulation S offerings.

The financing is linked to Germany's collective Paris Club agreements with the Russian Federation, raising funds from receivables held by the Republic of Germany.

Aries Vermogensverwaltungs GmbH is a special purpose company.

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