Braunschweig, 6 January 2021. Volkswagen Leasing GmbH, a wholly owned subsidiary of Volkswagen Financial Services AG, has issued three bonds with a total volume of EUR 2.5 billion. The bonds, which have terms of two and a half, five and eight years, are expected to be rated A3 (Moody's) and BBB+ (Standard and Poor's). All the bonds are guaranteed by Volkswagen Financial Services AG. The transaction was oversubscribed more than three times.
"We are very satisfied with our first bond issue in the new year and are delighted with the trust and confidence placed in us by investors. In the course of the past year, which was dominated by the COVID-19 pandemic and its repercussions on the financial markets, refinancing rates decreased sharply again, with the consequence that we are significantly below the prices of last spring," says Frank Fiedler, CFO of Volkswagen Financial Services AG.