Thanks to the strong investor demand, the bond was able to be sold at the lower end of the price range. Frank Fiedler, CFO of the parent company Volkswagen Financial Services AG, sees this as a confirmation of the solid business model of the Volkswagen financial service providers and of the charisma radiated by the name Volkswagen: "The first corporate bond of the new year has been issued by Volkswagen Leasing GmbH. We are pleased that – after a successful 2010 – we are making an excellent start to the year 2011 with this transaction. The bond shows that the investors have confidence in us and that we are successfully communicating with them in a transparent manner."
The details of the placement were as follows:
• Issuer: Volkswagen Leasing GmbH
• Volkswagen Financial Services AG
• Volumen: EUR 1.25 billion
• Denominations: EUR 50,000
• Maturity period: 13.01.2011 – 13.07.2015 (4.5 years)
• Coupon: 2.75%
• Issue price: 99.444%
• Stock exchange listing: Luxembourg
The bond was marketed by a banking consortium comprising Barclays Capital, BNP Paribas, Bayerische Landesbank and Banco Santander. Owing to the high level of demand from investors, the transaction volume was increased from the original 1 billion euros to 1.25 billion euros. The great interest shown on the part of investors confirms the stable market position enjoyed by Volkswagen Financial Services AG as a leading automobile finance company.
Information for editors
Volkswagen Financial Services AG is a wholly-owned subsidiary of Volkswagen AG with headquarters in Braunschweig, Germany. The market leader for automobile financial services in Europe is responsible for the coordination of the worldwide financial services activities of the Volkswagen Group. Volkswagen Financial Services AG has more than 6,775 employees worldwide – including over 4,290 alone in Germany (as at: 31.12.2009). As at the end of 2009, Volkswagen Financial Services AG reported total assets of around 60 billion euros, a pre-tax result of 554 million euros, and a portfolio of more than 6.03 million current contracts.
Volkswagen Leasing GmbH is an operating subsidiary of Volkswagen Financial Services AG. The company is specialised in the leasing of individual motor vehicles to private and corporate customers with a comprehensive spectrum of services as well as in the management of vehicle fleets.
Contacts for press inquiries:
Volkswagen Financial Services AG
Dietmar Kupisch (Press and Public Relations)
Tel.: + 49 5 31 / 2 12- 32 06
Ulrich Hauswaldt (Investor Relations)
Tel.: + 49 5 31 / 2 12-66 88