Press Releases

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Braunschweig,
November 5, 2018

Total assets of Volkswagen Financial Services exceed the EUR 200 billion mark for the first time

Volkswagen Financial Services have successfully concluded the first three quarters of this year and achieved new record results. The total assets of Volkswagen Financial Services exceeded the mark of EUR 200 billion for the first time at the end of September and totalled EUR 200.79 billion as at 30.09.2018. At the end of 2008, approximately ten years ago, this figure was still around EUR 75 billion. "Volkswagen Financial Services have grown very successfully in recent years. The sales-driven growth is based on our strong internationalisation focus and our local market penetration plans. That has also enabled us this year to break through the barrier of EUR 200 billion in total assets," explains Lars Henner Santelmann, Chairman of the Management Board of Volkswagen Financial Services AG. He adds: "In this connection, I would like to express my thanks once again to Dr. Christian Dahlheim, who has been extraordinarily successful as Chief Sales Officer during the past few years and has always been a driving force behind our expansion strategy." Dr. Christian Dahlheim has been Head of Group Sales at Volkswagen AG since 1 October 2018 after previously holding the position of Chief Sales Officer at Volkswagen Financial Services AG since 1 January 2016.

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Braunschweig,
October 17, 2018

Volkswagen Financial Services successfully placed leasing receivables

Volkswagen Leasing GmbH, a wholly-owned subsidiary of Volkswagen Financial Services AG, has successfully placed its 27th Auto-Asset Backed Securities (ABS) transaction from securitised leasing receivables, VCL 27, with a volume of 957 million euros. During the bookbuilding process, the Class A Notes were placed at a price of 1-month Euribor plus 22 basis points, and the Class B Notes at plus 68 basis points.

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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,
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,
September 24, 2018

Volkswagen Financial Services expand their international fleet service in the USA

Volkswagen Financial Services have expanded their portfolio of international services for vehicle fleets. Thanks to Volkswagen Credit, Inc. (VCI), German and international corporate customers can now also be served in the US market and benefit from a one-stop service. "We have set ourselves the goal of achieving further growth in the non-European fleet business as well – and that includes the USA," says Jochen Schmitz, Head of International Fleet at Volkswagen Financial Services AG. "Together with our overseas colleagues we now have an even broader range of international services on offer." 

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Braunschweig, Berlin, Stuttgart,
September 13, 2018

Volkswagen Financial Services bring Daimler on board as new investor for their premium used-car platform heycar

Volkswagen Financial Services have been able to secure Daimler's financial division as a partner and investor for their used-car platform heycar, which was launched with great success in October 2017. Daimler's financial engagement is taking place by way of a capital increase. On completion of the transaction, Daimler will hold a 20% stake in Mobility Trader Holding GmbH, which operates the heycar platform in the German market via its subsidiary Mobility Trader GmbH. Daimler Financial Services will then hold a seat on the advisory board of Mobility Trader GmbH and – as and when heycar expands beyond Germany – one seat on the advisory board of each additional international subsidiary. Both parties have agreed not to disclose the purchase price. The transaction is subject to approval by the relevant antitrust authorities.

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Braunschweig,
August 29, 2018

Volkswagen Bank places Auto-ABS with a volume of more than 750 million euros

Volkswagen Bank GmbH has successfully placed its 15th Auto Asset-Backed Securities (ABS) transaction comprising securitised financing contracts, Driver 15, with a volume of more than 750 million euros. During the bookbuilding process, the Class A Notes were placed at a price of 1-month Euribor plus 18 basis points, and the Class B Notes at plus 60 basis points. In addition, Volkswagen Financial Services Australia Pty Limited placed a bond (ISIN: AU3CB0255941) worth 350 million Australian dollars (AUD), around 224 million euros, with a term of three and a half years with an annual interest rate of 3.3 percent.

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Braunschweig,
August 9, 2018

Volkswagen Financial Services with a successful capital market start into the second half of the year

Volkswagen Financial Services successfully placed bonds in euros (EUR), Russian roubles (RUB) and pounds sterling (GBP) this week. "The attractive refinancing conditions in recent months were one reason for our very good half-year result. It is therefore all the more gratifying that we also started the second half of the year with successful issues in three major currencies," says Frank Fiedler, CFO of Volkswagen Financial Services AG and Chairman of the Board of Directors at Volkswagen Credit Inc. (USA). He adds: "The return of Volkswagen Credit Inc. to the American ABS market in June was also of great significance for the refinancing strength, as Volkswagen financial services' refinancing strategy is based on the broad use of instruments and currencies."

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