Braunschweig, 1st November 2011
Volkswagen Leasing GmbH successfully places benchmark bonds with a total volume of 1.5 billion euros
Volkswagen Leasing GmbH has yesterday successfully placed two bonds with a total volume of 1.5 billion euros pursuant to the 18 billion euro Debt Issuance Programme of Volkswagen Financial Services AG. The order book for the 3- and 6.5-year tranches reached an overall volume of more than 6 billion euros and was therefore oversubscribed several times. "With this issue we have taken the various needs of the investors into account in the best possible manner. The success of these bonds supports the strong growth course of Volkswagen Financial Services," explains Frank Fiedler, CFO of Volkswagen Financial Services AG. Both bonds are guaranteed by Volkswagen Financial Services AG. The bonds were mainly marketed in Germany, France and Great Britain. This is already the fourth euro benchmark transaction in 2011 carried out by a company operating under the roof of Volkswagen Financial Services AG.
The details of the placement of the two bonds were as follows:
Tranche 1 Tranche 2
Volume: EUR 750,000,000.00 EUR 750,000,000.00
Denominations: EUR 100,000.00 EUR 100,000.00
Term: 3 years 6.5 years
Coupon: 2.25 % 3.25%
Yield: 2.309 % 3.376 %
Issue price: 99.831 % 99.289 %
Stock exchange: Luxembourg Luxembourg
The bonds were marketed by a banking consortium comprising BNP Paribas, Barclays Capital, BayernLB, Danske Bank and RBC Capital Markets. Thanks to the high investor demand, the price range could be significantly marked down during the bookbuilding process. The great interest shown on the part of investors confirms the stable market position enjoyed by Volkswagen Financial Services AG as a leading automotive financing 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 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