Archiv 2010

The rating agency Standard & Poor's (S&P) has confirmed the short-term (A-2) and the long-term (A-) rating of Volkswagen Bank GmbH and at the same time improved the outlook on the bank from "negative" to "stable".

The securitisation transaction, Volkswagen Car Lease 12 (VCL 12), was successfully placed with a broad range of investors on 9th September. It was the first benchmark Auto ABS (Asset-Backed Securities) transaction bearing the True Sale International GmbH quality label "Certified by TSI – DEUTSCHER VERBRIEFUNGSSTANDARD" to be fully marketed to investors via a roadshow and subsequent bookbuilding process.

Volkswagen Leasing GmbH is today issuing an ABS (Asset-Backed Securities) bond with a volume of 475 million euros that bears for the first time the certificate "CERTIFIED BY TSI – DEUTSCHER VERBRIEFUNGSSTANDARD" from the securitisation platform True Sale International GmbH (TSI). This is the first-ever certification of an ABS bond collateralised by German leasing receivables. "With the first public securitisation of leasing receivables under the new standard, our leading role in the European auto ABS market is being confirmed," says Frank Fiedler, CFO of Volkswagen Financial Services AG.

The securitisation transaction Driver Seven GmbH (Driver 7) has been successfully placed with a broad range of investors on March 17th. Driver 7 is the second benchmark Auto ABS (Asset-Backed Securities) transaction of Volkswagen Financial Services AG and only the third European Auto ABS transaction since September 2008 to be fully marketed to investors via a roadshow and subsequent bookbuilding process.

Braunschweig, February 4th, 2010. Volkswagen Financial Services AG has been providing financial services for the first time in the Baltic States of Lithuania, Latvia and Estonia since the beginning of February 2010. This is being done together with the Nordea Finance companies in the Baltic and the importer Auto Group Baltic within the framework of a cooperation agreement. A corresponding contract was signed at the beginning of this year.