By Cristal Cody
Prospect News, May 24 - VW Credit Canada Inc. sold C$450 million in two tranches of senior notes (A3/DBRS: A), a bond source said.
A C$225 million tranche of 2.5% notes due June 1, 2015 priced at 99.986 to yield 2.505%, or a spread of 128 basis points over the Government of Canada benchmark.
A C$225 million tranche of 2.9% notes due June 1, 2017 priced at par to yield 148 bps over the government benchmark.
TD Securities Inc. and RBC Capital Markets Corp. were the lead managers.
The financial service provider for Volkswagen Group Canada dealerships is based in Quebec.
| Issuer: | VW Credit Canada Inc.
|
| Amount: | C$450 million
|
| Securities: | Senior notes
|
| Bookrunners: | TD Securities, RBC Capital Markets
|
| Pricing date: | May 24
|
| Settlement date: | May 30
|
| Ratings: | Moody's: A3
|
| DBRS: A
|
| Distribution: | Canada
|
|
|
| Notes due 2015
|
| Amount: | C$225 million
|
| Maturity: | June 1, 2015
|
| Coupon: | 2.5%
|
| Price: | 99.986
|
| Yield: | 2.505%
|
| Spread: | 128 bps over Government of Canada benchmark
|
|
|
| Notes due 2017
|
| Amount: | C$225 million
|
| Maturity: | June 1, 2017
|
| Coupon: | 2.9%
|
| Price: | Par
|
| Yield: | 2.9%
|
| Spread: | 148 bps over Government of Canada benchmark
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
