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Braunschweig,
May 24, 2017

Volkswagen Financial Services placed Spanish Auto ABS transaction with a volume of one billion euros

Volkswagen Financial Services have placed the Auto ABS (Asset-Backed Securities) transaction Driver España four today with a volume of around EUR 1,0 billion. The transaction is securitised with receivables of the Spanish Volkswagen subsidiary Volkswagen Finance S.A., and it is the Spanish Auto ABS from Volkswagen Financial Services with the lowest pricing ever. Furthermore, it is the largest Spanish Auto ABS transaction to be carried out since the outbreak of the financial crisis in 2007. During the bookbuilding process the Tranche A was placed at a price of 1-month Euribor plus 38 basis points and the Class B notes at plus 75 basis points. The order book was oversubscribed 2.6 times (Tranche A) and 5.6 times (Tranche B) at placement pricing levels.

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Braunschweig,
May 11, 2017

Volkswagen Financial Services placed Australian Auto-ABS

Volkswagen Financial Services have successfully placed their fourth Australian Auto Asset Backed Securities (ABS) transaction. The securitisation transaction Driver Australia four, which is securitised with receivables of Volkswagen Financial Services Australia Pty Ltd., has a volume of around 500 million Australian dollars (AUD), about Euro 340 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 95 basis points and the Class B notes at plus 165 basis points. The order book was oversubscribed 4.86 times (Class A) and 3.12 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,
May 9, 2017

Volkswagen Financial Services start the year with good first quarter

Volkswagen Financial Services have also started out well in 2017. During the first quarter of 2017, new contracts rose by almost two percent over the same period last year. The portfolio of current contracts registered an increase of more than nine percent to reach a total of 18.4 million contracts. "We are satisfied with our start in the financial year 2017. We have been able to increase the overall number of our new contract acquisitions even further than that achieved during our strong start to the year in 2016," says Dr. Christian Dahlheim, Chief Sales Officer of Volkswagen Financial Services AG. The level of new contracts acquired in Europe, specifically in Italy, France and Spain, has shown particular growth, but an equally positive development has also been recorded in the markets of China and Mexico.

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Braunschweig/ Peking ,
April 26, 2017

Volkswagen Financial Services issue bond in renminbi

Volkswagen Financial Services have issued a bond in renminbi (RMB) for the second time and fully placed it with Chinese investors. The volume of the security issued by Volkswagen Finance (China) Co., Ltd., a wholly owned subsidiary of Volkswagen Financial Services AG, amounts to four billion renminbi, or approximately 534 million euros. The transaction is therefore the largest single tranche bond by an Auto-Finance-Company in renminbi so far. The bond, which was placed in a bookbuilding process, has a term of three years and a coupon of 5.20 percent per year.

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Braunschweig,
March 24, 2017

Personnel changes at Volkswagen Financial Services as a result of corporate realignment

The realignment under company law at Volkswagen Financial Services (VWFS), which was initiated last year, will result in several personnel changes. The regulatory approvals for the realignment measures are in part still pending. As part of the restructuring, the plan is to bundle the credit and deposit business within the European Economic Area in Volkswagen Bank GmbH. This company will then become a 100% subsidiary of Volkswagen AG. All other activities will remain with Volkswagen Financial Services AG. A new company, Volkswagen Financial Services Digital Solutions GmbH, will in future develop and provide services for its parent companies Volkswagen Bank GmbH and Volkswagen Financial Services AG. The mobility services of Volkswagen Financial Services AG will be bundled in the new "Mobility Unit" business section. 

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Braunschweig/ Frankfurt am Main,
March 23, 2017

Volkswagen Financial Services achieve their best-ever result

Volkswagen Financial Services have brought the 2016 financial year to a successful conclusion and achieved new record levels in both their operating result and their volume of current contracts. "The 2016 financial year was challenging for Volkswagen Financial Services, but nevertheless very successful. Volkswagen Financial Services have achieved their best-ever operating result and secured their future growth with a strategic realignment," says Lars Henner Santelmann, the Chairman of the Board of Management of Volkswagen Financial Services AG.  

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Braunschweig,
March 1, 2017

Volkswagen Financial Services AG issues borrower's note loans totalling around EUR 900 million

Volkswagen Financial Services AG has successfully issued a series of borrower's note loans with a total volume of around EUR 900 million (cross-currency). Within the scope of the transaction, maturities of three, five and seven years were placed in euros and US dollars, with more than 500 million in US dollars. The interest margins of all tranches were fixed at the lower end of the respective marketing range.

 

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Braunschweig,
February 10, 2017

Volkswagen Financial Services securitise Japanese auto loans

Volkswagen Financial Services have successfully placed their sixth Japanese auto Asset-Backed Securities (ABS) transaction today. The securitisation transaction Driver Japan six, which is securitised with receivables of Volkswagen Financial Services Japan Ltd., has a volume of around 60 billion Japanese Yen (JPY), this corresponds to about Euro 500 million. 

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