Archive 2015

date

 
Braunschweig,
October 10, 2018

Volkswagen Financial Services issues bonds worth 2.6 billion euros

Volkswagen Financial Services AG has placed three bonds with a total volume of 2.6 billion euros. Standard & Poor's is expected to rate the issue BBB+ and Moody’s with A3. Altogether, the transaction was oversubscribed more than 1.7 times.

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Braunschweig,
December 14, 2015

Volkswagen Financial Services successfully market Brazilian Auto ABS transaction

Volkswagen Financial Services have successfully placed their third Brazilian Auto Asset-Backed Securities (ABS) transaction. The securitisation transaction Driver Brasil three has a volume of around 1.09 billion Brazilian reals (BRL) or around 257 million euros. The senior tranche was marketed in a bookbuilding process at a price of 1-month CDI, the Brazilian reference interest rate, plus 175 basis points, and the mezzanine tranche at plus 285 basis points. The order books were oversubscribed 1.5 times at placement price levels.

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Braunschweig,
December 9, 2015

Volkswagen Financial Services expect an operating result for 2015 above the level of the previous year

Volkswagen Financial Services have continued to grow during the course of the 2015 financial year. This growth has been primarily driven by the excellent business performance until late summer of this year. On the basis of the preliminary figures, the number of current contracts is expected to rise by 5.8 percent to reach more than 13.1 million (2014: 12.4 million).

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Braunschweig,
November 27, 2015

Volkswagen Financial Services report a successful year for Auto ABS in 2015

Auto ABS (Asset-Backed Securities) have been an essential component in the refinancing mix of Volkswagen Financial Services since 1996 and have also made a substantial contribution towards the stability and success of the company during the current financial year.

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Braunschweig,
November 26, 2015

Dr. Christian Dahlheim appointed as the new Chief Sales Officer at Volkswagen Financial Services AG

Dr. Christian Dahlheim (47) has been appointed Member of the Board of Management of Volkswagen Financial Services AG with responsibility for Sales and Marketing with effect from 1 January 2016. In this function Dahlheim succeeds Lars Henner Santelmann (52), who took over from Frank Witter (56) as Chairman of the Board of Management of Volkswagen Financial Services AG on 16 October 2015.

 

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Braunschweig,
October 29, 2015

Volkswagen Financial Services successfully market Auto ABS

Volkswagen Financial Services have successfully placed their 22nd Asset-Backed Securities (ABS) transaction to securitise leasing contracts, VCL 22, on the market with a volume of around EUR 857 million. With a total figure of around EUR 23 billion as at 30.06.2015, Auto ABS transactions have contributed around 15% towards the refinancing of Volkswagen Financial Services. The refinancing of Volkswagen Financial Services is carried out on the basis of strategic diversification. In addition to Auto ABS transactions, deposits from the stable direct banking business and the money and capital markets are the most important elements in the refinancing mix.

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Braunschweig,
October 16, 2015

Lars-Henner Santelmann appointed Chairman of the Board of Management of the Volkswagen Financial Services AG

Lars-Henner Santelmann (52), has been appointed Chairman of the Board of Management of Volkswagen Financial Services AG with immediate effect. In this function Santelmann succeeds Frank Witter (56), who has been appointed Member of the Board of Management of Volkswagen Aktiengesellschaft with responsibility for Finance.

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Braunschweig,
September 22, 2015

Volkswagen Financial Services placed Spanish Auto ABS transaction

Volkswagen Financial Services have today placed the securitisation transaction Driver España two with a volume of around EUR 816 million. This was the first public Spanish Auto ABS (Asset-Backed Securities) transaction since 2011. The securitisation transaction is securitised with receivables of the Spanish Volkswagen subsidiary Volkswagen Finance S.A. During the bookbuilding process, the Class A Notes were placed at a price of 1-month Euribor plus 53 basis points. This is the best price since the outbreak of the financial crisis. The Class B notes were not put on offer. It is the first Spanish Auto ABS transaction with the True Sale International GmbH quality label “Certified by TSI – Deutscher Verbriefungsstandard”.

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Braunschweig,
September 9, 2015

Volkswagen Financial Services placed Auto ABS transaction in pounds sterling

Volkswagen Financial Services have placed the securitisation transaction Driver UK three with a volume of around 453 million pounds sterling (GBP), or around Euro 624 billion. The securitisation transaction is securitised with receivables of Volkswagen Financial Services (UK) Limited. During the bookbuilding process, the Class A Notes were placed at a price of 1-month Libor plus 50 basis points and the Class B Notes at plus 95 basis points. The transaction bears the True Sale International GmbH quality label “Certified by TSI – Deutscher Verbriefungsstandard”.

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Braunschweig/Beijing,
July 8, 2015

Volkswagen Financial Services expand ABS programme in China

Volkswagen Financial Services have expanded their ABS programme in China and have securitised Chinese automobile credits and sold them to investors for the second time. The securitisation transaction Driver China two has a volume of around 1.9 billion renminbi (RMB), or around 283 million euros. Driver China two is the first transaction by Volkswagen Finance China, a wholy owned subsidiary of Volkswagen Financial Services AG, which is under China Banking Regulatory Commission registration scheme and People's Bank of China filing scheme.

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Braunschweig,
June 3, 2015

Volkswagen Financial Services market French Auto ABS

Volkswagen Financial Services have successfully placed their second French Asset-Backed Securities (ABS) transaction. The securitisation transaction Driver France two, which is secured by receivables of Volkswagen Financial Services France, a branch of Volkswagen Bank GmbH, has a volume of around EUR 481 million. During the bookbuilding process, the Class A Notes were priced at 1-month Euribor plus 22 basis points and the Class B notes at plus 70 basis points. The order books were oversubscribed 1.5 times (Class A) at placement pricing levels. The transaction bears the True Sale International GmbH quality label “Certified by TSI – deutscher Verbriefungsstandard”.

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Braunschweig,
May 6, 2015

Volkswagen Financial Services set new standards of transparency for Auto ABS

Starting immediately, Volkswagen Financial Services are providing their investors with even more detailed facts and figures about their Australian asset-backed securities (ABS) transactions. The information is presented in a format defined by Australia’s central bank, the Reserve Bank of Australia. Volkswagen Financial Services are the first originators of ABS in Australia to fulfil this level of transparency. The definition of standard templates allows a better comparability of ABS transactions and more sophisticated analysis options for investors. The portfolio is now presented in a detailed and comprehensive manner with a high level of standardised information. This also includes, for example, a description of the credit-granting process.

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Braunschweig,
April 30, 2015

Volkswagen Financial Services market ABS transaction VCL 21

Volkswagen Financial Services have successfully placed their 21st Asset-Backed Securities (ABS) transaction to securitise leasing contracts, VCL 21, on the market with a volume of around EUR 1.03 billion. In comparison to the previous year, the proportion of auto ABS transactions in the refinancing mix of Volkswagen Financial Services has increased during the 2014 financial year. With a volume of around EUR 21 billion (previous year: EUR 16 billion), auto ABS transactions contributed around 15% (previous year: 14%) towards the refinancing of Volkswagen Financial Services.

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Santiago de Chile/ Braunschweig,
March 31, 2015

Porsche Volkswagen Servicios Financieros starts business in Chile

Starting immediately, Porsche Volkswagen Servicios Financieros Chile SpA, a subsidiary of Volkswagen Financial Services AG and Porsche Bank AG in Salzburg, is now marketing vehicle financing and insurance for all Volkswagen Passenger Cars, Audi, Škoda and Volkswagen Commercial Vehicles in Chile. The two joint venture partners each hold a 50% stake in the company.

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Johannesburg,
March 31, 2015

Volkswagen Financial Services South Africa records a successful first year

Volkswagen Financial Services South Africa (PTY) Limited, a joint venture between Volkswagen Financial Services AG and WesBank, can look back on a successful first year. More than 35,000 new and used cars were financed during the first twelve months, since the company started operations on 1 March 2014. To further promote the sales of Volkswagen Group brands and strengthen the relationship between dealers and customers, additional new products are also due to be launched in the near future.

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Frankfurt am Main,
March 17, 2015

Volkswagen Financial Services with record result in 2014

Volkswagen Financial Services have once again grown very successfully during the 2014 financial year. At the annual press conference, Frank Witter, Chairman of the Board of Management of Volkswagen Financial Services AG, reported yet another record result. Witter expressed his delight at the improvement of all important key figures for the Volkswagen financial services segment of the Volkswagen Group: the operating result increased to EUR 1.7 billion (+5.5 %), total assets to EUR 137.4 billion (+19.4 %) and the portfolio to 12.4 million contracts (+15.5 %). The operating result for the current financial year is not expected to be lower than last year.

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Braunschweig,
February 26, 2015

Volkswagen Financial Services placed Australian Auto-ABS

Volkswagen Financial Services have successfully placed their second Australian Asset Backed Securities (ABS) transaction. The securitisation transaction Driver Australia two, which is securitised with receivables of Volkswagen Financial Services Australia Pty Ltd., has a volume of around 463 million Australian dollars (AUD), about Euro 320 million. During the bookbuilding process, the Class A notes were placed at a price of one-month BBSW (Bank Bill Swap Rate, the Australian reference interest rate) plus 75 basis points and the Class B notes at plus 135 basis points. Thus the transaction could be placed at a lower interest rate spread as Driver Australia one in November 2013. The order book was oversubscribed 1.6 times (Class A) and 6.2 times (Class B) at placement pricing levels. The transaction bears the True Sale International GmbH quality label “Certified by TSI – Deutscher Verbriefungsstandard”.

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Braunschweig,
February 13, 2015

Volkswagen Financial Services placed Japanese Auto-ABS

Volkswagen Financial Services have successfully placed their fourth Japanese Asset-Backed Securities (ABS) transaction. The securitisation transaction Driver Japan four, which is securitised with receivables of Volkswagen Financial Services Japan Ltd., has a volume of around 32 billion Japanese Yen (JPY), this corresponds to about Euro 236 million. The senior tranche was priced at 12 basis points over base rate.

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Braunschweig/Beijing,
January 29, 2015

Volkswagen Financial Services receive four awards for Auto ABS transaction in China

The first Auto ABS (Asset-Backed Securities) transaction carried out by Volkswagen Financial Services in China, Driver China one, has received four awards. The transaction was named "Best Securitisation in Asia"by the financial journal Global Capital, "Asia Pacific Structured Finance Issue of the Year"by the financial medium International Financing Review (IFR)as well as "Structured Finance Issue of the Year" by IFR Asiaand"Best Domestic Securitization"by the Asian financial magazine The Asset. Volkswagen Financial Services securitised Chinese automobile credits and sold them to investors for the first time in August last year. Driver China one had a volume of around 800 million renminbi (RMB). The transaction was part of the ABS pilot programme that granted wholly foreign-owned auto finance companies access to the local ABS market for the first time under the supervision of the China Banking Regulatory Commission and the People’s Bank of China.

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Braunschweig,
January 22, 2015

Volkswagen Financial Services securitise German car loans

Volkswagen Financial Services have today successfully placed its 13th Auto ABS (Asset Backed Securities) transaction, Driver 13, on the market with a total volume of around EUR 750 million. The issue to securitise motor vehicle financing contracts was sold in two tranches at the lower end of the price range. During the bookbuilding process, the Class A Notes were placed at a price of 1-month Euribor plus 25 basis points and the Class B Notes at plus 65 bp. The order book was oversubscribed 2.85 times (Class A) and 1.9 times (Class B) at placement pricing levels.

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