27th May 2011
Volkswagen Leasing GmbH successfully issues benchmark bonds with a total volume of 1.25 billion euros
Volkswagen Leasing GmbH has yesterday successfully placed two bonds with a total volume of 1.25 billion euros pursuant to the 18 billion euro Debt Issuance Programme of Volkswagen Financial Services AG. The transaction comprises a floating-rate and a fixed-rate bond with terms of 2 and 5 years. The issue thus enables the various interests of the investors to be taken into account in the best possible manner. Both bonds are guaranteed by Volkswagen Financial Services AG. The bonds were mainly marketed in Germany, France and Great Britain. This is already the third euro benchmark transaction in 2011 carried out by a company operating under the roof of Volkswagen Financial Services AG.
The details of the placement were as follows:
Issuer: Volkswagen Leasing GmbH Volkswagen Leasing GmbH
Volume: EUR 500,000,000.00 EUR 750,000,000.00
Denominations: EUR 100,000.00 EUR 100,000.00
Term: 03.06.2011-03.062013 03.06.2011-03.062013
Coupon: 3-month Euribor plus 0.40% 3.375%
Yield: 3-month Euribor plus 0.45% 3.415%
Issue price: 99.90% 99.819%
Stock exchange: Luxemburg Luxemburg
The issue was marketed by a banking consortium comprising Bank of America Merrill Lynch, Credit Agricole CIB, HSBC and WestLB.
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 6,797 employees worldwide – including over 4,297 alone in Germany (as at: 31.12.2010). As at the end of 2010, Volkswagen Financial Services AG reported total assets of more than 65 billion euros, a pre-tax result of 870 million euros, and a portfolio of more than 6.14 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
Dennis Eisenhauer (Press Officer)
Tel.: +49 5 31 / 2 12- 55 41
Ulrich Hauswaldt (Investor Relations)
Tel.: +49 5 31 / 2 12-66 88