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Debt Issuance and Commercial Paper ...
Corporate Bonds
Asset Backed Securities

Refinancing of Volkswagen Bank GmbH

Capital market/deposits/ABS refinancing

Refinancing Sources as at 30st June 2019

Debt Issuance and Commercial Paper Programmes

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€ 10 bn Debt Issuance Programme


Issuer	Volkswagen Bank GmbH
Guarantor	no guarantee
Arrangeur	UNICREDIT BANK
Dealers	BANCO BILBAO VIZCAYA ARGENTARIA, BARCLAYS, BAYERNLB, BNP PARIBAS, BOFA MERRILL LYNCH, CITIGROUP, COMMERZBANK AG, CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK, Danske Bank A/S, DEUTSCHE BANK, Goldman Sachs International, HSBC, J.P. MORGAN, LANDESBANK BADEN-WÜRTTEMBERG, MUFG, MIZUHO SECURITIES, NATWEST MARKETS, RBC Capital Markets, SANTANDER GLOBAL CORPORATE BANKING, SOCIÉTÉ GÉNÉRALE CORPORATE & INVESTMENT BANKING, TD Securities, UNICREDIT BANK
Issuing + Paying Agent	CITIBANK, N.A.

EUR 10 bn Debt Issuance Programme	Jun 6, 2019	EUR 10 Mrd. Debt Issuance Programme Download pdf
EUR 10 Mrd. Debt Issuance Programme	Jun 6, 2019	EUR 10 Mrd. Debt Issuance Programme Download pdf
1st Supplement (10.09.2019)	Sep 10, 2019	1st Supplement (10.09.2019) Download pdf

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€ 2,5 bn Multi-Currency Commercial Paper Programme


Issuer	Volkswagen Bank GmbH
Guarantor	no guarantee
Arrangeur	Citibank International plc
Dealers	Barclays Capital, Citibank International plc, Bayerische Landesbank, Danske Bank, BNP PARIBAS, Dresdner Bank, Handelsbanken Capital Markets, ING Financial Markets, Morgan Stanley, SEB Merchant Banking, The Royal Bank of Scotland
Paying Agent	Citibank, N.A.

€ 2,5 bn Multi-Currency Commercial Paper Programme	Dec 20, 2005	€ 2,5 bn Multi-Currency Commercial Paper Programme Download pdf
Commercial Paper Target Market Definition	Dec 20, 2005	Commercial Paper Target Market Definition Download pdf

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

PLN 3 bn Debt Instrument Issuance Programme


Issuers	Volkswagen Bank Polska S.A., Volkswagen Leasing Polska Sp. z o.o.
Guarantor	Guarantor for Volkswagen Bank Polska S.A., Volkswagen Leasing Polska Sp. z o.o. Debt Instruments - Volkswagen Financial Services AG
Arrangeur	ING Bank Slaski S.A.
Dealers	BRE Bank SA Bank Handlowy w Warszawie SA ABN Amro Bank (Polska) S.A. ING Bank Slaski S.A. Société Générale S.A. Oddzial w Polsce Bank PEKAO S.A. Dealer for the Day (if any)
Paying Agent	ING Bank

PLN 3 bn Debt Instrument Issuance Programme

Aug 6, 2008

PLN 3 bn Debt Instrument Issuance Programme

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Corporate Bonds

Maturity: 15.06.2021; CUR+amount: EUR 750 m Interest rate: 3-months Euribor + 0,420%; WKN: A1X3P0; ISIN: XS1734547919	Dec 13, 2017	Maturity: 15.06.2021; CUR+amount: EUR 750 m Interest rate: 3-months Euribor + 0,420%; WKN: A1X3P0; ISIN: XS1734547919 Download pdf
Maturity: 08.09.2021; CUR+amount: EUR 800 m Interest rate: 0,625%; WKN: A1X3P3; ISIN: XS1830992480	Jun 6, 2018	Maturity: 08.09.2021; CUR+amount: EUR 800 m Interest rate: 0,625%; WKN: A1X3P3; ISIN: XS1830992480 Download pdf
Maturity: 08.12.2021; CUR+amount: EUR 600 m Interest rate: 3-months Euribor + 0,70%; WKN: A1X3P4; ISIN: XS1830992563	Jun 6, 2018	Maturity: 08.12.2021; CUR+amount: EUR 600 m Interest rate: 3-months Euribor + 0,70%; WKN: A1X3P4; ISIN: XS1830992563 Download pdf
Maturity: 05.06.2022; CUR+amount: EUR 400 m Interest rate: 0,500%; WKN: A2GSFV; ISIN: XS2008294170	Jun 3, 2019	Maturity: 05.06.2022; CUR+amount: EUR 400 m Interest rate: 0,500%; WKN: A2GSFV; ISIN: XS2008294170 Download pdf
Maturity: 05.07.2022; CUR+amount: EUR 500 m Interest rate: 0,375%; WKN: A1X3QA; ISIN: XS2023306140	Jul 3, 2019	Maturity: 05.07.2022; CUR+amount: EUR 500 m Interest rate: 0,375%; WKN: A1X3QA; ISIN: XS2023306140 Download pdf
Maturity: 01.08.2022; CUR+amount: EUR 300 m Interest rate: 3-months Euribor + 1,470%; WKN: A1X3P6; ISIN: XS1944384350	Jan 29, 2019	Maturity: 01.08.2022; CUR+amount: EUR 300 m Interest rate: 3-months Euribor + 1,470%; WKN: A1X3P6; ISIN: XS1944384350 Download pdf
Maturity: 01.08.2022; CUR+amount: EUR 500 m Interest rate: 1,250%; WKN: A1X3P7; ISIN: XS1944388856	Jan 29, 2019	Maturity: 01.08.2022; CUR+amount: EUR 500 m Interest rate: 1,250%; WKN: A1X3P7; ISIN: XS1944388856 Download pdf
Maturity: 15.06.2023; CUR+amount: EUR 750 m Interest rate: 0,750%; WKN: A1X3P1; ISIN: XS1734548487	Jun 15, 2023	Maturity: 15.06.2023; CUR+amount: EUR 750 m Interest rate: 0,750%; WKN: A1X3P1; ISIN: XS1734548487 Download pdf
Maturity: 26.09.2023; CUR+amount: EUR 20 m Interest rate: 5,40%; WKN: 226326; ISIN: XS0175737997	Sep 26, 2003	Maturity: 26.09.2023; CUR+amount: EUR 20 m Interest rate: 5,40%; WKN: 226326; ISIN: XS0175737997 Download pdf
Maturity: 31.01.2024; CUR+amount: EUR 850 m Interest rate: 1,875%; WKN: A1X3P8; ISIN: XS1944390241	Jan 29, 2019	Maturity: 31.01.2024; CUR+amount: EUR 850 m Interest rate: 1,875%; WKN: A1X3P8; ISIN: XS1944390241 Download pdf
Maturity: 07.06.2024; CUR+amount: EUR 10 m Interest rate: 5,5%; WKN: 363315; ISIN: XS0193333613	Jun 7, 2004	Maturity: 07.06.2024; CUR+amount: EUR 10 m Interest rate: 5,5%; WKN: 363315; ISIN: XS0193333613 Download pdf
Maturity: 10.06.2024; CUR+amount: EUR 800 m Interest rate: 1,250%; WKN: A1X3P5; ISIN: XS1830986326	Jun 6, 2018	Maturity: 10.06.2024; CUR+amount: EUR 800 m Interest rate: 1,250%; WKN: A1X3P5; ISIN: XS1830986326 Download pdf
Maturity: 15.12.2025; CUR+amount: EUR 500 m Interest rate: 1,250%; WKN: A1X3P2; ISIN: XS1734548644	Dec 13, 2017	Maturity: 15.12.2025; CUR+amount: EUR 500 m Interest rate: 1,250%; WKN: A1X3P2; ISIN: XS1734548644 Download pdf
Maturity: 31.07.2026; CUR+amount: EUR 850 m Interest rate: 2,500%; WKN: A1X3P9; ISIN: XS1944390597	Jan 29, 2019	Maturity: 31.07.2026; CUR+amount: EUR 850 m Interest rate: 2,500%; WKN: A1X3P9; ISIN: XS1944390597 Download pdf

Asset Backed Securities

Volkswagen Bank GmbH

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Driver Master

	Class A Notes	Class B Notes
Initial Balance	216.7m EUR	10.5m EUR
Ranking	Senior	Junior
Initial Credit Enhancement	11.00 %	6.80 %
Expected Weighted Average Lives	2.01 years	2.28 years
Closing Date	25.06.2019	25.06.2019
Expected Repayment Date	February 2021	February 2021
Final Maturity Date	May 2028	May 2028
Rating (DBRS / Fitch / Moody´s)	AAA(sf) / AAA(sf) / Aaa(sf)	A(high) (sf) / A+(sf) / A1(sf)
Coupon	1-m-EURIBOR + 0.25% p.a.	1-m-EURIBOR + 0.70% p.a.
Denomination	100,000 EUR	100,000 EUR
Payment Frequency	monthly	monthly
Redemption	sequential / pro rata / pass through	sequential / pro rata / pass through
Form	Global Registered Note	Global Registered Note
Listing	Luxembourg Stock Exchange	Luxembourg Stock Exchange

Driver Master - Offering Circular	Jun 19, 2019	Driver fifteen - Offering Circular Download pdf
Rating Letter DBRS	Jun 25, 2019	Rating Letter DBRS Download pdf
Rating Letter Fitch	Jun 26, 2019	Rating Letter Fitch Download pdf
Rating Letter Moody's	Jun 25, 2019	Rating Letter Moody's Download pdf
TSI Declaration of Undertaking	Jun 26, 2019	TSI Declaration of Undertaking Download pdf
Final SVI Verification Report	Jul 26, 2019	Final SVI Verification Report Download pdf
Final STS-Notification May 2019	Jun 26, 2019	Final STS-Notification May 2019 Download Excel

Investor Report Driver Master 08.2019	Sep 18, 2019	Investor Report Driver Master 08.2019 Download Excel
Investor Report Driver Master 09.2019	Oct 18, 2019	Investor Report Driver Master 09.2019 Download Excel
Investor Report Driver Master 10.2019	Nov 18, 2019	Investor Report Driver Master 10.2019 Download Excel

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Driver fourteen

	Class A	Class B
Initial Balance	833.4m EUR	20.7m EUR
Ranking	Senior	Junior
Initial Credit Enhancement	8.4 %	6.1 %
Expected Weighted Average Lives	1.27 years	2.03 years
Closing Date	26.03.2018	26.03.2018
Expected Repayment Date	February 2021	February 2021
Legal Maturity Date	February 2026	February 2026
Preliminary Rating (DBRS / Moody´s)	AAA(sf) / AAA(sf)	A(high)(sf) / A1(sf)
Coupon	1-m-EURIBOR + 40bps p.a.	1-m-EURIBOR + 37bps p.a.
Issuance Price	100.362 %	100 %
Denomination	100,000 EUR	100,000 EUR
Payment Frequency	monthly	monthly
Redemption	sequential / pro rata / pass through	sequential / pro rata / pass through
Form	Registered Note (Reg S)	Registered Note (Reg S)
Listing	Luxembourg Stock Exchange	Luxembourg Stock Exchange

Driver fourteen - Offering Circular	Mar 22, 2018	Driver fourteen - Offering Circular Download pdf
Driver fourteen - DBRS - New Issue Report	Mar 26, 2018	Driver fourteen - DBRS - New Issue Report Download pdf
Driver fourteen - DBRS - Press Release	Mar 26, 2018	Driver fourteen - DBRS - Press Release Download pdf
Driver fourteen - Moody's - New Issue Report	Mar 26, 2018	Driver fourteen - Moody's - New Issue Report Download pdf
Driver fourteen - Moody's - Press Release	Mar 26, 2018	Driver fourteen - Moody's - Press Release Download pdf
TSI Declaration of undertaking	Mar 26, 2018	TSI Declaration of undertaking Download pdf

Investor Report Driver fourteen 08.2019	Sep 16, 2019	Investor Report Driver fourteen 08.2019 Download Excel
Investor Report Driver fourteen 09.2019	Oct 16, 2019	Investor Report Driver fourteen 09.2019 Download Excel
Investor Report Driver fourteen 10.2019	Nov 18, 2019	Investor Report Driver fourteen 10.2019 Download Excel

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Driver fifteen

	Class A	Class B
Initial Balance	694.5m EUR	21.7m EUR
Ranking	Senior	Junior
Initial Credit Enhancement	8.6 %	5.7 %
Expected Weighted Average Lives	1.9 years	2.7 years
Closing Date	25.09.2018	25.09.2018
Expected Repayment Date	June 2022	June 2022
Legal Maturity Date	August 2026	August 2026
Preliminary Rating (S&P / Moody´s)	AAA(sf) / Aaa(sf)	AA- (sf) / A1(sf)
Coupon	1-m-EURIBOR + 40bps p.a.	1-m-EURIBOR + 60bps p.a.
Issuance Price	100.42 %	100 %
Denomination	100,000 EUR	100,000 EUR
Payment Frequency	monthly	monthly
Redemption	sequential / pro rata / pass through	sequential / pro rata / pass through
Form	Registered Notes (Reg S)	Registered Notes (Reg S)
Listing	Luxembourg Stock Exchange	Luxembourg Stock Exchange

Driver fifteen - Offering Circular	Sep 20, 2018	Driver fifteen - Offering Circular Download pdf
Driver fifteen - S&P - New Issue Report	Sep 25, 2018	Driver fifteen - S&P - New Issue Report Download pdf
Driver fifteen - Moody's - New Issue Report	Sep 25, 2018	Driver fifteen - Moody's - New Issue Report Download pdf
Driver fifteen - TSI - Declaration of Undertaking	Sep 25, 2018	Driver fifteen - TSI - Declaration of Undertaking Download pdf

Investor Report Driver fifteen 08.2019	Sep 16, 2019	Investor Report Driver fifteen 08.2019 Download Excel
Investor Report Driver fifteen 09.2019	Oct 16, 2019	Investor Report Driver fifteen 09.2019 Download Excel
Investor Report Driver fifteen 10.2019	Nov 18, 2019	Investor Report Driver fifteen 10.2019 Download Excel

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Volkswagen Bank GmbH, Spanish Branch

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Driver España three

	Class A	Class B
Initial Balance	858m EUR	28.9m EUR
Ranking	Senior	Junior
Initial Credit Enhancement	15.5%	12.61%
Expected Weighted Average Lives	1.47 years	2.31 years
Closing Date	26.02.2016	26.02.2016
Expected Repayment Date	August 2019	August 2019
Final Maturity Date	December 2026	December 2026
Rating (Moody's / S&P)	Aa2 (sf) / AAA (sf)	A2 (sf) / AA (sf)
Coupon	1-m-EURIBOR + 1.05% p.a.	Fixed Rate: 1.4842% p.a.
Denomination	100,000 EUR	100,000 EUR
Payment Frequency	monthly	monthly
Redemption	sequential / pro rata / pass through	sequential / pro rata / pass through
Form	Registered Notes (Reg S)	Registered Notes (Reg S)
Listing	AIAF Fixed Income Market	AIAF Fixed Income Market

Spanish Offering Circular Driver España three	Feb 24, 2016	Spanish Offering Circular Driver España three Download pdf
English Offering Circular Driver España three	Feb 23, 2016	English Offering Circular Driver España three Download pdf
New Issue Report Moody's	Feb 26, 2016	New Issue Report Moody's Download pdf
New Issue Report S&P	Feb 26, 2016	New Issue Report S&P Download pdf
TSI Declaration of Undertaking	Feb 26, 2016	TSI Declaration of Undertaking Download pdf

Investor Report Driver España three 06.2019	Jun 30, 2019	Investor Report Driver España three 06.2019 Download Excel
Investor Report Driver España three 07.2019	Jul 18, 2019	Investor Report Driver España three 07.2019 Download Excel
Investor Report Driver España three 08.2019	Aug 14, 2019	Investor Report Driver España three 08.2019 Download Excel

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Driver España four

	Class A	Class B
Initial Balance	888m EUR	26m EUR
Ranking	Senior	Junior
Initial Credit Enhancement	12.50%	9.90%
Expected Weighted Average Lives	1.67 years	2.80 years
Closing Date	28.06.2017	28.06.2017
Expected Repayment Date	March 2021	March 2021
Legal Maturity Date	April 2028	April 2028
Rating (DBRS/Moody's)	AAA (sf) /Aa2 (sf)	A (sf) / A2 (sf)
Coupon	1-m-EURIBOR + 0,38% p.a.	1-m-EURIBOR + 0,75% p.a.
Denomination	100,000 EUR	100,000 EUR
Payment Frequency	monthly	monthly
Redemption	sequential / pro rata / pass through	sequential / pro rata / pass through
Form	Registered Notes (Reg S)	Registered Notes (Reg S)
Listing	Luxembourg Stock Exchange	Luxembourg Stock Exchange

Offering Circular Driver España four	Jun 23, 2017	Offering Circular Driver España four Download pdf
New Issue Report DBRS	Jun 26, 2017	New Issue Report DBRS Download pdf
New Issue Report Moody's	Jun 26, 2017	New Issue Report Moody's Download pdf
TSI Declaration of Undertaking	Jun 28, 2017	TSI Declaration of Undertaking Download pdf

Investor Report Driver España four 08.2019	Sep 16, 2019	Investor Report Driver España four 08.2019 Download Excel
Investor Report Driver España four 09.2019	Oct 16, 2019	Investor Report Driver España four 09.2019 Download Excel
Investor Report Driver España four 10.2019	Nov 15, 2019	Investor Report Driver España four 10.2019 Download Excel

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Driver España five

	Class A	Class B
Initial Balance	888m EUR	26m EUR
Ranking	Senior	Junior
Initial Credit Enhancement	12.50%	9.90%
Expected Weighted Average Lives	1.69 years	2.87 years
Closing Date	28.02.2018	28.02.2018
Expected Repayment Date	December 2021	December 2021
Legal Maturity Date	December 2028	December 2028
Rating (S&P/Moody's)	AAA (sf) /Aa2 (sf)	AA- (sf) / A2 (sf)
Coupon	1-m-EURIBOR + 0.40% p.a.	1-m-EURIBOR + 0.54% p.a.
Issuance Price	100.277%	100.00%
Denomination	100,000 EUR	100,000 EUR
Payment Frequency	monthly	monthly
Redemption	sequential / pro rata / pass through	sequential / pro rata / pass through
Form	Registered Notes (Reg S)	Registered Notes (Reg S)
Listing	Luxembourg Stock Exchange	Luxembourg Stock Exchange

Prospectus Driver España five	Feb 22, 2018	Prospectus Driver España five Download pdf
S&P New Issue Report	Feb 28, 2018	S&P New Issue Report Download pdf
Moody's New Issue Report	Feb 27, 2018	Moody's New Issue Report Download pdf
TSI Declaration of Undertaking	Feb 28, 2018	TSI Declaration of Undertaking Download pdf

Investor Report Driver España five 08.2019	Sep 16, 2019	Investor Report Driver España five 08.2019 Download Excel
Investor Report Driver España five 09.2019	Oct 16, 2019	Investor Report Driver España five 09.2019 Download Excel
Investor Report Driver España five 10.2019	Nov 15, 2019	Investor Report Driver España five 10.2019 Download Excel

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Volkswagen Bank GmbH, French Branch

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Driver France three

	Class A	Class B
Initial Balance	448m EUR	19.5m EUR
Ranking	Senior	Junior
Initial Credit Enhancement	11.6%	7.7%
Expected Weighted Average Lives	1.20 years	[1.31 years
Closing Date	27.04.2017	27.04.2017
Expected Repayment Date	January 2020	January 2020
Final Maturity Date	April 2024	April 2024
Rating (DBRS / S&P)	AAA(sf) / AAA(sf)	A (high) (sf) / A+(sf)
Coupon	1-m-EURIBOR + 0.45% p.a.	1-m-EURIBOR + 0.60% p.a.
Issuance Price	100,23%	100,00%
Denomination	100,000 EUR	100,000 EUR
Payment Frequency	monthly	monthly
Redemption	sequential / pro rata	sequential / pro rata
	pass through	pass through
Form	Registered Notes	Registered Notes
Listing	Luxembourg Stock Exchange	Luxembourg Stock Exchange

Offering Circular Driver France three	Apr 26, 2017	Offering Circular Driver France three Download pdf
New Issue Report DBRS	Apr 27, 2017	New Issue Report DBRS Download pdf
New Issue Report S&P	Apr 27, 2017	New Issue Report S&P Download pdf
TSI Declaration of Undertaking	Apr 4, 2017	TSI Declaration of Undertaking Download pdf

Investor Report Driver France three 08.2019	Sep 16, 2019	Investor Report Driver France three 08.2019 Download Excel
Investor Report Driver France three 09.2019	Oct 16, 2019	Investor Report Driver France three 09.2019 Download Excel
Investor Report Driver France three 10.2019	Nov 18, 2019	Investor Report Driver France three 10.2019 Download Excel

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Volkswagen Bank GmbH, Italian Branch



Driver Italia one

	Class A	Class B
Initial Balance	441.0m EUR	14.0m EUR
Ranking	Senior	Junior
Initial Credit Enhancement	13.1%	10.3%
Expected Weighted Average Lives	1.28 years	2.34 years
Closing Date	29.05.2018	29.05.2018
Expected Repayment Date	March 2021	March 2021
Legal Maturity Date	April 2029	April 2029
Preliminary Rating (DBRS / Moody´s / S&P)	AAA(sf) / Aa2(sf) / AA(sf)	A(high)(sf) / A1(sf) / AA(sf)
Coupon	1-m-EURIBOR + 40bps p.a.	1-m-EURIBOR + 50bps p.a.
Issuance Price	100,183%	100%
Denomination	100,000 EUR	100,000 EUR
Payment Frequency	monthly	monthly
Redemption	sequential / pro rata / pass through	sequential / pro rata / pass through
Form	Global Bearer Note	Global Bearer Note
Listing	Luxembourg Stock Exchange	Luxembourg Stock Exchange

Driver Italy one - Offering Circular	May 24, 2018	Driver Italy one - Offering Circular Download pdf
Driver Italy one - DBRS - Rating Report	May 24, 2018	Driver Italy one - DBRS - Rating Report Download pdf
Driver Italy one - Moody's - Rating Report	May 29, 2018	Driver Italy one - Moody's - Rating Report Download pdf
Driver Italy one - S&P - Rating Report	May 29, 2018	Driver Italy one - S&P - Rating Report Download pdf
TSI Declaration of Undertaking	May 29, 2018	TSI Declaration of Undertaking Download pdf

Investor Report Driver Italia one 08.2019	Sep 16, 2019	Investor Report Driver Italia one 08.2019 Download PDF
Investor Report Driver Italia one 09.2019	Oct 16, 2019	Investor Report Driver Italia one 09.2019 Download PDF
Investor Report Driver Italia one 10.2019	Nov 18, 2019	Investor Report Driver Italia one 10.2019 Download PDF

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More Information about Volkswagen Bank GmbH

Portrait

Portrait

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Key Data

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Mandatory Publications

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