VW to Return to Issuing Bonds

AutoNews reports that Volkswagen plans to start issuing automotive bonds again from its financial services wing. The bonds are a key refinancing channel for the company’s loan and lease business that has been shut since late last year.

“We expect that the group will once again issue bonds to the capital markets by the middle of the year,” VW said in a statement, adding that this would likely take place before the end of June.

Volkswagen Group is Europe’s largest corporate issuer of bonds and the company expects a boost in sales when it starts issuing the bonds again.

Bonds serve as an important source of cheap cash for VW Financial Services, whose funding is behind nearly half of all cars the group sells in Europe.

VW FS’s “importance to the other operating divisions cannot be overstated,” wrote Morgan Stanley ina report late last month. Wherever Volkswagen sells cars, you find VW FS, stated one VW FS official.

The move is part of Volkswagen’s long term plan to double the size of its financial services wing by 2025.

The post VW to Return to Issuing Bonds appeared first on VWVortex.

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Waterfest Moves to Atco Dragway

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