Volkswagen is in the market with a €7.5 million German auto ABS deal that will be publicly placed.

The transaction, called VCL Multi-Compartment SA Comp VCL 13, will be co-managed by BNP Paribas and Skandinaviska Enskilda Banken AB.

The capital structure will include €690 million of triple-A rated Class A notes and a second class B tranche that offers investors €24.7 million single-A-plus-rated notes.

The deal is expected to close this month.

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