FTSE 100 today: Index opens flat amid latest trade developments; pound above $1.36
FRANKFURT - Volkswagen (ETR:VOWG_p) Bank GmbH announced Thursday it has launched a dual tranche offering of euro-denominated benchmark senior preferred notes with 3-year and 6-year maturities, according to a press release statement.
The notes, due in 2028 and 2031 respectively, are being issued under the bank’s Debt Issuance Programme dated September 25, 2024, with supplements from November 11, 2024, and March 28, 2025.
Commerzbank (ETR:CBKG) AG (OTC:CRZBY) will serve as the stabilization coordinator for the offering, with ABN AMRO (AS:ABNd) Bank N.V., Banco Santander (BME:SAN), and RBC Capital Markets acting as stabilizing managers. The stabilization period is expected to begin June 12, 2025, and last no longer than 30 days after the proposed issue date.
The securities will be listed on the Luxembourg Stock Exchange’s Regulated Market with denominations of €100,000. The offer price has not yet been determined.
As part of the stabilization process, the managers may over-allot securities or conduct transactions to support the market price at levels higher than might otherwise prevail, though stabilization is not guaranteed to occur.
The notes are being issued without a guarantor. The announcement indicates that stabilization actions, if undertaken, will comply with applicable laws and rules.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.