Volkswagen Leasing Prices Domestic Bond

Mexico’s Volkswagen Leasing has issued MXP2.5bn ($191m) in 2015 domestic bonds, after receiving an order book that was 1.2x oversubscribed, according to a banker on the deal. The leasing unit of Volkswagen’s Mexico operations will pay TIIE+40bp, just wide of the TIIE+25bp-35bp price estimations. Santander and BBVA Bancomer managed the deal, rated AAA on a local scale.