Volkswagen Leasing GmbH is in the market with a new €718.5 million ($950 million) securitization of German auto lease receivables.

The deal, VCL  Multi-Compartment S.A., Compartment VCL 15, will offer investors two tranches that have been assigned a preliminary rating of 'Aaa' and 'A1' by Moody's Investors Service. Both tranches have been structured with floating rate notes that come due on January 2018.

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