Press Releases

Volkswagen Financial Services AG increased its pre-tax profits during the business year 2011 by 7.2 percent to the record level of 933 million euros. Total assets rose by 17.8 percent to reach 77 billion euros. "We have also continued our worldwide growth during the business year 2011. Our strategy of diversified refinancing, a rigorous risk management and a strong sales performance have made a key contribution to the fact that Volkswagen Financial Services AG has again been able to report a record result," as the Chairman of the Management Board of Volkswagen Financial Services AG, Frank Witter, declared on the occasion of the annual press conference in Frankfurt am Main.

The securitisation transaction Volkswagen Car Lease 15 (VCL 15) with a volume of EUR 1 billion was successfully placed with a broad range of investors yesterday. VCL 15 is the first German benchmark ABS (Asset-Backed Securities) transaction from Volkswagen Financial Services AG in the year 2012 and bears the True Sale International GmbH quality label "Certified by TSI –DEUTSCHER VERBRIEFUNGSSTANDARD".

The securitisation transaction Driver Japan One was successfully placed today. It is the first Auto ABS (Asset-Backed Securities) transaction by a European car manufacturer in Japan so far which was marketed to a broad range of Japanese investors. It is backed by receivables of the Tokyo-based Volkswagen Financial Services Japan Ltd. Japan is the fourth country following Germany, UK and Spain, in which Volkswagen Financial Services is engaged with its driver platform.

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 securitisation transaction Driver España One was successfully placed with investors today. This was the first public Spanish Auto ABS (Asset-Backed Securities) transaction since 2007 and the first-ever ABS transaction to be collateralised by receivables from the Spanish Volkswagen subsidiary Volkswagen Finance S.A. based in Madrid. That makes Spain the third country after Germany and Great Britain in which Volkswagen Financial Services AG is active with its Driver platform.

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 securitisation transaction Driver Nine (Driver 9) was successfully placed with a broad range of investors on 18th May. The transaction bears the True Sale International GmbH quality label "Certified by TSI – DEUTSCHER VERBRIEFUNGSSTANDARD". Driver 9 was fully marketed to investors via a roadshow and subsequent bookbuilding process. The syndicate of banks, led by Royal Bank of Scotland plc., UniCredit Bank AG und Volkswagen Bank GmbH, was able to sell the two tranches at the lower end of the price guidance thanks to strong investor demand and high oversubscription levels.

The securitisation transaction Volkswagen Car Lease 13 (VCL 13) at a volume of EUR 953 million was today successfully placed among a broad range of investors with the lowest risk premiums since the finance crisis. VCL 13 is already the second benchmark ABS (Asset-Backed Securities) transaction from Volkswagen Financial Services AG this year that bears the True Sale International GmbH quality label "Certified by TSI – DEUTSCHER VERBRIEFUNGSSTANDARD".