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VW Selling First European Corporate Bonds of 2013
European corporate bonds' spread to government debt narrows to 137 basis points from 301 at the start of 2012.
Volkswagen AG is selling Europe’s first corporate bonds of the new year as company borrowing costs relative to government debt fell to the lowest since April 2008.
The German carmaker was the region’s biggest issuer of debt last year, selling 9.8 billion euros ($12.8 billion) of bonds, and it has 6.5 billion euros of notes maturing this year, according to data compiled by Bloomberg.
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