Funding Strategy
In terms of funding, Volkswagen Financial Services AG generally pursues a strategy of diversification with the aim of achieving the best possible balance of cost and risk. This means accessing the widest possible variety of funding sources in the various regions and countries with the objective of safeguarding funding at optimum terms at all times.
The main topics of our refinancing strategy are:
- Well diversified refinancing instruments
Ensuring our growth on the one hand, and refinancing at the best conditions possible on the other requires an extensive set of highly sophisticated instruments and measures. Our spectrum includes issuing bonds in different markets and currencies as well as asset-backed securities (ABS) and commercial papers as well as customer deposits. Due to our presence in different market segments we benefit from the most favorable conditions.
- Also utilising means outside the company rating
Our customers' direct bank deposits are not subject to agency ratings. In the case of ABS tranches, it is the underlying receivables, which are subjected to the rating, but not the company. With all these issuances we have achieved triple-A ratings, which is a proof for their high quality.
- Finding and tapping new investor
The acquisition of new investors by usage of new instruments, tapping new regions or usage of new currencies extends our refinancing basis.
- Minimizing risks by usage of capital market derivatives
It goes without saying that we observe the development of the interest rate structure curve in order to take advantage of favorable refinancing rates. We utilize particular financial derivatives such as interest rate swaps so that we always successfully match maturities with our current business operations. In principle refinancing is carried out in local currency. If the refinancing is not done in local currency, the currency risk is fully hedged.
Green Finance Framework 2024
Volkswagen Financial Services AG has published a new Green Finance Framework (GFF) to account for the recent reorganization that took place on July 1st, 2024.
As part of the restructuring of the subgroups of Volkswagen Financial Services AG, Volkswagen Bank GmbH and Volkswagen Financial Services Overseas AG as of July 1, 2024, Volkswagen Financial Services AG assumed obligations from the EUR 50,000,000,000 debt issuance program of Volkswagen Financial Services Overseas AG ( see “Notice regarding bonds”). This also includes obligations from the Green Finance Framework 2023 of Volkswagen Financial Services Overseas AG:
Green Finance Framework 2023
Green Bonds
| Currency and Amount | Period | ISIN |
|---|---|---|
| EUR 800 million | 25.09.2023 - 25.03.2026 | XS2694872081 |
| EUR 500 million | 25.09.2023 - 25.03.2029 | XS2694872594 |
| EUR 700 million | 25.09.2023 - 25.09.2031 | XS2694874533 |
| SEK 650 million | 08.12.2023 - 08.12.2025 | XS2729797311 |
| SEK 550 million | 08.12.2023 - 08.12.2026 | XS2729835004 |
| SEK 300 million | 08.12.2023 - 08.12.2026 | XS2729836150 |
| NOK 1,0 billion | 15.12.2023 - 15.03.2029 | XS2732161034 |
| EUR 850 million | 11.01.2024 - 11.10.2026 | XS2745344601 |
| EUR 1,15 billion | 11.01.2024 - 11.10.2028 | XS2745725155 |
| EUR 750 million | 11.01.2024 - 11.04.2031 | XS2745726047 |
| CHF 300 million | 12.02.2024 - 12.02.2027 | CH1322499612 |
| CHF 300 million | 12.02.2024 - 12.02.2030 | CH1322499620 |
| SEK 350 million | 29.01.2024 - 08.12.2025 | XS2729797311 |
| NOK 800 million | 15.05.2024 - 14.05.2027 | XS2821758948 |
| EUR 800 million | 10.06.2024 - 10.09.2026 | XS2837886014 |
| EUR 700 million | 10.06.2024 - 10.06.2027 | XS2837886105 |
| EUR 750 million | 10.06.2024 - 10.09.2030 | XS2837886287 |
| EUR 1.0 billion | 19.11.2024 - 19.05.2027 | XS2941360963 |
| EUR 1.1 billion | 19.11.2024 - 19.05.2029 | XS2941605078 |
| EUR 650 million | 19.11.2024 - 19.11.2031 | XS2941605235 |
Letter of Comfort
Download
Debt Issuance and Commercial Paper Programmes
The following table shows the programmes issued by Volkswagen Financial Services AG, Volkswagen Bank GmbH and their affiliated subsidiaries.
EUR 50 bn Debt Issuance Programme
| Issuer | Volkswagen Financial Services AG Volkswagen Financial Services N.V. Volkswagen Bank GmbH |
| Guarantor | VOLKSWAGEN FINANCIAL SERVICES AG |
| Arrangeur | UNICREDIT BANK GmbH |
| Dealers | Banco Bilbao Vizcaya Argentaria, S.A., Banco Santander, S.A., Barclays Bank Ireland PLC, BNP Paribas, BofA Securities Europe SA, Cititgroup Global Markets Europe AG, Commerzbank Aktiengesellschaft, Crédit Agricole Corporate and Investment Bank, Danske Bank A/S, Deutsche Bank Aktiengesellschaft, HSBC Continental Europe, Intesa Sanpaolo S.p.A., Landesbank Baden-Württemberg, Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH, Mizuho Securities Europe GmbH, MUFG Securities (Europe) N.V., RBC Capital Markets (Europe) GmbH, Skandinaviska Enskilda Banken AB (publ), SMBC Bank EU AG, Société Générale, UniCredit Bank AG |
| Issuing + Paying Agent | CITIBANK Europe plc, Germany branch |
PLN 5 bn Debt Issuance Programme
| Issuer | Volkswagen Financial Services Polska Sp. z o.o. |
| Guarantor | Guarantor for Volkswagen Financial Services Polska Sp. z o.o. Debt Instruments - Volkswagen Financial Services AG |
| Arrangeur | Bank Polska Kasa Opieki S.A. |
| Dealers |
mBank S.A. Bank Handlowy w Warszawie S.A. Intesa Sanpaolo S.p.A. Santander Bank Polska S.A. Bank Polska Kasa Opieki S.A. |
EUR 7.5 bn Multi-Currency Commercial Paper Programme
| Issuer |
Volkswagen Financial Services AG Volkswagen Bank GmbH Volkswagen Financial Services N.V. Volkswagen Finans Sverige AB (publ) ŠkoFIN s.r.o. |
| Guarantor | Volkswagen Financial Services AG (for Volkswagen Financial Services N.V. and SkoFIN s.r.o.) |
| Arrangeur | Citigroup Global Markets Limited |
| Dealers |
Barclays Bank Ireland PLC, Bayerische Landesbank, BNP Paribas, BRED Banque Populaire S.A., Citigroup Global Markets Limited, Citigroup Global Markets Europe AG, Commerzbank Aktiengesellschaft, Crédit Agricole Corporate and Investment Bank, Crédit Industriel et Commercial S.A., Danske Bank A/S, DNB Bank ASA, DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main, ING Bank N.V., NatWest Markets N.V., Nordea Bank Abp, Skandinaviska Enskilda Banken AB (publ), Svenska Handelsbanken AB (publ), Swedbank AB (publ) |
| Paying Agent | Citibank, N.A., London Branch |
As part of the restructuring of the subgroups of Volkswagen Financial Services AG, Volkswagen Bank GmbH and Volkswagen Financial Services Overseas AG as of July 1, 2024, Volkswagen Financial Services AG assumed obligations from the EUR 50,000,000,000 debt issuance program and the EUR 7,500,000,000 multi-currency commercial paper program of Volkswagen Financial Services Overseas AG ( see “Notice regarding bonds”). Information about these programmes can be found here:
Base Prospectus before June 30, 2024
Downloads
- € 50 bn Debt Issuance Programme Volkswagen Financial Services Overseas AG (September 01, 2023) (PDF, 3.6 MB)
- 1. Supplement to the Base Prospectus 2023 (28.03.2024) (PDF, 351.0 KB)
- Base Prospectus 2022 (15.09.2022) (PDF, 3.7 MB)
- 1. Supplement to the Base Prospectus 2022 (27.03.2023) (PDF, 384.0 KB)
- 2. Supplement to the Base Prospectus 2022 (11.05.2023) (PDF, 17.0 KB)
- Base Prospectus 2021 (24.06.2021) (PDF, 3.1 MB)
- 1. Supplement to the Base Prospectus 2021 (04.08.2021) (PDF, 292.0 KB)
- 2. Supplement to the Base Prospectus 2021 (30.03.2022) (PDF, 422.0 KB)
- Base Prospectus 2020 (17.06.2020) (PDF, 3.4 MB)
- 1. Supplement to the Base Prospectus 2020 (01.09.2020) (PDF, 468.0 KB)
- 2. Supplement to the Base Prospectus 2020 (26.03.2021) (PDF, 343.0 KB)
- Base Prospectus 2019 (06.06.2019) (PDF, 4.2 MB)
- 1. Supplement to the Base Prospectus 2019 (19.08.2019) (PDF, 605.0 KB)
- 2. Supplement to the Base Prospectus 2019 (27.03.2020) (PDF, 814.0 KB)
- Base Prospectus 2018 (26.06.2018) (PDF, 5.4 MB)
- 1. Supplement to the Base Prospectus 2018 (26.06.2018) (PDF, 299.0 KB)
- 2. Supplement to the Base Prospectus 2018 (07.08.2018) (PDF, 193.0 KB)
- 3. Supplement to the Base Prospectus 2018 (22.11.2018) (PDF, 72.0 KB)
- 4. Supplement to the Base Prospectus 2018 (10.01.2019) (PDF, 341.0 KB)
- 5. Supplement to the Base Prospectus 2018 (22.03.2019) (PDF, 599.0 KB)
- Base Prospectus 2017 (28.06.2017) (PDF, 2.3 MB)
- 1. Supplement to the Base Prospectus 2017 (22.09.2017) (PDF, 474.0 KB)
- 2. Supplement to the Base Prospectus 2017 (26.01.2018) (PDF, 92.0 KB)
- 3. Supplement to the Base Prospectus 2017 (22.03.2018) (PDF, 961.0 KB)
- 4. Supplement to the Base Prospectus 2017 (29.03.2018) (PDF, 434.0 KB)
- 5. Supplement to the Base Prospectus 2017 (24.05.2018) (PDF, 310.0 KB)
- Base Prospectus 2016 (05.08.2016) (PDF, 3.0 MB)
- 1. Supplement to the Base Prospectus 2016 (30.03.2017) (PDF, 155.0 KB)
- Base Prospectus 2015 (11.06.2015) (PDF, 2.2 MB)
- 1. Supplement to the Base Prospectus 2015 (31.07.2015) (PDF, 183.0 KB)
- Base Prospectus 2014 (12.06.2014) (PDF, 2.4 MB)
- 1. Supplement to the Base Prospectus 2014 (04.08.2014) (PDF, 168.0 KB)
- 2. Supplement to the Base Prospectus 2014 (19.03.2015) (PDF, 178.0 KB)
- Base Prospectus 2013 (12.06.2013) (PDF, 1.7 MB)
- 1. Supplement to the Base Prospectus 2013 (07.08.2013) (PDF, 156.0 KB)
- 2. Supplement to the Base Prospectus 2013 (16.09.2013) (PDF, 85.0 KB)
- 3. Supplement to the Base Prospectus 2013 (28.11.2013) (PDF, 144.0 KB)
- 4. Supplement to the Base Prospectus 2013 (21.03.2014) (PDF, 159.0 KB)
Multi-currency commercial paper program bevor June 30, 2024
Corporate Bonds
Via the following links you can find an overview of outstanding bonds for all issuers under the debt issuance programme of Volkswagen Financial Services AG.
Volkswagen Financial Services AG
- Maturity: 19.05.2027; CUR+amount: EUR 1 bn; Interest rate: 3.25%; WKN: A4DFAA; ISIN: XS2941360963 (PDF, 798.0 KB)
- Maturity: 19.05.2029; CUR+amount: EUR 1.1 bn; Interest rate: 3.625%; WKN: A4DFAC; ISIN: XS2941605078 (PDF, 799.0 KB)
- Maturity: 19.11.2031; CUR+amount: EUR 650 mn; Interest rate: 3.875%; WKN: A4DFAB; ISIN: XS2941605235 (PDF, 796.0 KB)
Volkswagen Financial Services N.V.
An overview of the corporate bonds of Volkswagen Financial Services N.V. can be found here.
Volkswagen Leasing GmbH
An overview of the corporate bonds of Volkswagen Leasing GmbH can be found here.
As part of the restructuring of the subgroups of Volkswagen Financial Services AG, Volkswagen Bank GmbH and Volkswagen Financial Services Overseas AG as of July 1, 2024, Volkswagen Financial Services AG assumed obligations from the EUR 50,000,000,000 debt issuance program of Volkswagen Financial Services Overseas AG ( see “Notice regarding bonds”). This also includes the following outstanding bonds from Volkswagen Financial Services Overseas AG (formerly named Volkswagen Financial Services Aktiengesellschaft until July 1, 2024):
Corporate bonds issued by Volkswagen Financial Services Overseas AG until June 30, 2024
- Maturity: 31.01.2025; CUR+amount: EUR 1 bn Interest rate: 0.250%; WKN: A2LQ6T; ISIN: XS2438615606 (PDF, 933.0 KB)
- Maturity: 12.02.2025; CUR+amount: EUR 750 m; Interest rate: 0.000%; WKN: A2LQ6Q; ISIN: XS2374595127 (PDF, 573.0 KB)
- Maturity: 06.04.2025; CUR+amount: EUR 700 m; Interest rate: 3.000%; WKN: A2LQ6K; ISIN: XS2152062209 (PDF, 398.0 KB)
- Maturity: 10.09.2026; Cur+Amount: EUR 800 m; Interest Rate: 3.750%; WKN: A2LQ6W; ISIN: XS2837886014 (PDF, 518.0 KB)
- Maturity: 16.10.2026; Cur+Amount: EUR 750 m; Interest Rate: 2.250%; WKN: A2LQ6C; ISIN: XS1893631769 (PDF, 1.1 MB)
- Maturity: 12.02.2027; CUR+amount: EUR 1,000 m; Interest rate: 0.125%; WKN: A2LQ6R; ISIN: XS2374595044 (PDF, 327.0 KB)
- Maturity: 10.06.2027; CUR+amount: EUR 700 m; Interest rate: 3-M-E+ 0,78%; WKN: A383ES; ISIN: XS2837886105 (PDF, 615.0 KB)
- Maturity: 01.10.2027; CUR+amount: EUR 650 m; Interest rate: 2.250%; WKN: A2LQ6G; ISIN: XS1972547696 (PDF, 1.1 MB)
- Maturity: 31.01.2028; CUR+amount: EUR 1 bn Interest rate: 0.875%; WKN: A2LQ6U; ISIN: XS2438616240 (PDF, 934.0 KB)
- Maturity: 06.04.2028; CUR+amount: EUR 800 m; Interest rate: 3.375%; WKN: A2LQ6L; ISIN: XS2152061904 (PDF, 399.0 KB)
- Maturity: 12.02.2030; CUR+amount: EUR 1,000 m; Interest rate: 0.375%; WKN: A2LQ6S; ISIN: XS2374594823 (PDF, 327.0 KB)
- Maturity: 10.09.2030; CUR+amount: EUR 750 m; Interest rate: 3.875%; WKN: A383ET; ISIN: XS2837886287 (PDF, 518.0 KB)
For corporate bonds issued by Volkswagen Leasing GmbH until June 30, 2024 please click here.
Asset Backed Securities
Volkswagen Financial Services (UK) Ltd.
Driver UK Master C6
| Class A / Senior Schuldschein | Class B / Junior Schuldschein | |
|---|---|---|
| Initial Balance | 2,465.9m GBP | 385.8m GBP |
| Ranking | Senior | Junior |
| Initial Credit Enhancement | 29.37 % | 18.42 % |
| Expected Weighted Average Lives | [1.93] years | [2.04] years |
| Closing Date | [27.05.2025] | [27.05.2025] |
| Expected Repayment Date | [June 2028] | [June 2028] |
| Final Maturity Date | [May 2033] | [May 2033] |
| Rating (Fitch / S&P) | [AAA](sf) / [AAA](sf) | [A+] (sf) / [A+] (sf) |
| Coupon | SONIA + [75]bp p.a. | SONIA + [145]bp p.a. |
| Denomination | 100,000 GBP | 100,000 GBP |
| Payment Frequency | monthly | monthly |
| Redemption | 12m revolving period followed by sequential / pro rata mechanism pass through | 12m revolving period followed by sequential / pro rata mechanism pass through |
| Form | Registered Notes / Schuldschein Loan | Registered Notes / Schuldschein Loan |
| Listing | Luxembourg Stock Exchange | Luxembourg Stock Exchange |
Download Main Documents
- Driver UK Master C6 - Prospectus (PDF, 6.0 MB)
- Driver UK Master C6 - STS Verification Report (PDF, 802.0 KB)
- Driver UK Master C6 - STS Notification (XLSX, 81.0 KB)
- Fitch New Issue Report - Driver UK Master C6 (PDF, 805.0 KB)
- Fitch Press Release - Driver UK Master C6 (PDF, 225.0 KB)
- S&P New Issue Report - Driver UK Master C6 (PDF, 4.9 MB)
- S&P Press Release - Driver UK Master C6 (PDF, 139.0 KB)
- Driver UK Master C6 - Preliminary Prospectus (PDF, 4.3 MB)
- Driver UK Master C6 - Preliminary STS Verification Report (PDF, 818.0 KB)
- Driver UK Master C6 - Preliminary STS Notification (XLSX, 87.0 KB)
Driver UK Master C7
| Class A / Senior Schuldschein | Class B / Junior Schuldschein | |
|---|---|---|
|
Initial Balance |
3,839.0m GBP |
582.9m GBP |
|
Ranking |
Senior |
Junior |
|
Initial Credit Enhancement |
30.30% |
19.50% |
|
Expected Weighted Average Lives |
2.16 years |
2.24 years |
|
Closing Date |
25.11.2024 |
25.11.2024 |
|
Expected Repayment Date |
January 2028 |
January 2028 |
|
Final Maturity Date |
November 2032 |
November 2032 |
|
Rating (Fitch / S&P) |
AAA(sf) / AAA(sf) |
A+(sf) / A+(sf) |
|
Coupon |
SONIA + 0.75% p.a. |
SONIA + 1.55% p.a. |
|
Denomination |
100,000 GBP |
100,000 GBP |
|
Payment Frequency |
monthly |
monthly |
|
Redemption |
sequential / pro rata / pass through |
sequential / pro rata / pass through |
|
Form |
Registered Notes / Schuldschein Loan |
Registered Notes / Schuldschein Loan |
|
Listing |
Luxembourg Stock Exchange |
Luxembourg Stock Exchange |
Download Main Documents
- Driver UK Master C7 – Offering Circular (PDF, 5.8 MB)
- Driver UK Master C7 – STS Notification (XLSX, 79.0 KB)
- Driver UK Master C7 – Verification Report (PDF, 886.0 KB)
- Driver UK Master C7 – New Issue Report - Fitch (PDF, 799.0 KB)
- Driver UK Master C7 – Press Release - S&P (PDF, 128.0 KB)
- Driver UK Master C7 – Press Release - Fitch (PDF, 58.0 KB)
- Driver UK Master C7 – New Issue Report - S&P (PDF, 4.9 MB)
Driver UK Seven
| Class A | Class B | ||
|---|---|---|---|
| Initial Balance | 354.5m GBP | 54m GBP | |
| Ranking | Senior | Junior | |
| Initial Credit Enhancement | 29.1 % | 18.3 % | |
| Expected Weighted Average Lives | 2.06 years | 2.15 years | |
| Closing Date | 25.10.2023 | 25.10.2023 | |
| Expected Repayment Date | June 2027 | June 2027 | |
| Legal Maturity Date | February 2031 | February 2031 | |
| Rating (DBRS / Fitch / KBRA) | AAA(sf) / AAA(sf) / AAA(sf) | A(high) / AA / AA- | |
| Coupon | SONIA + 65 bp p.a. | SONIA + 180 bp p.a. | |
| Denomination | 100,000 GBP | 100,000 GBP | |
| Payment Frequency | monthly | monthly | |
| Redemption | 6m revolving period followed by sequential / pro rata mechanism pass through | 6m revolving period followed by sequential / pro rata mechanism pass through | |
| Form | Registered Notes | Registered Notes | |
| Listing | Luxembourg Stock Exchange | Luxembourg Stock Exchange |
Download Main Documents
- Prospectus - DUK7 (PDF, 3.6 MB)
- Rating Report Fitch - DUK7 (PDF, 708.0 KB)
- Rating Report DBRS - DUK7 (PDF, 449.0 KB)
- Rating Report KBRA - DUK7 (PDF, 678.0 KB)
- final sts notification - duk7 (XLSX, 82.0 KB)
- Final Verification Report pcs - duk7 (PDF, 849.0 KB)
- final lcr assessment - duk7 (PDF, 306.0 KB)
- final crr assessment pcs - duk7 (PDF, 298.0 KB)
Driver UK Eight
| Class A | Class B | ||
|---|---|---|---|
| Initial Balance | 444.6m GBP | 68.1m GBP | |
| Ranking | Senior | Junior | |
| Initial Credit Enhancement | 28.86 % | 17.96 % | |
| Expected Weighted Average Lives | 2.04 years | 2.14 years | |
| Closing Date | 25.03.2024 | 25.03.2024 | |
| Expected Repayment Date | December 2027 | December 2027 | |
| Legal Maturity Date | September 2031 | September 2031 | |
| Rating (S&P / Fitch / KBRA) | AAA(sf) / AAA(sf) / AAA(sf) | A+ / AA- / AA- | |
| Coupon | SONIA + 60 bp p.a. | SONIA + 135 bp p.a. | |
| Denomination | 100,000 GBP | 100,000 GBP | |
| Payment Frequency | monthly | monthly | |
| Redemption | 6m revolving period followed by sequential / pro rata mechanism pass through | 6m revolving period followed by sequential / pro rata mechanism pass through | |
| Form | Registered Notes | Registered Notes | |
| Listing | Luxembourg Stock Exchange | Luxembourg Stock Exchange |
Download Main Documents
- DUK 8 - Prospectus 4139-2941-0637 v.13.pdf (PDF, 11.5 MB)
- DUK eight - STS Notification.xlsx (XLSX, 81.0 KB)
- STS Term Verification Checklist - DRIVER UK Multi-Compartment S.A., Compartment Eight (00202)_22_3.pdf (PDF, 795.0 KB)
- CRR Assessment - DRIVER UK Multi-Compartment S.A., Compartment Eight (00202)_21_3.pdf (PDF, 295.0 KB)
- LCR Assessment - DRIVER UK Multi-Compartment S.A., Compartment Eight (00202)_21_3.pdf (PDF, 303.0 KB)
- S and P_DRIVER UK Multi-CompartmentS.A., Compartment Driver UK eight.pdf (PDF, 4.8 MB)
- KBRA Driver UK Multi-Compartment S.A., Compartment Driver UK eight New Issue Report.pdf (PDF, 842.0 KB)
- Fitch Driver UK Multi-Compartment S.A. – Compartment Driver UK eight - 2024-03-25.pdf (PDF, 728.0 KB)
Driver UK Nine
| Class A | Class B | ||
|---|---|---|---|
| Initial Balance | 358.8m GBP | 51.5m GBP | |
| Ranking | Senior | Junior | |
| Initial Credit Enhancement | 28.24% | 17.94% | |
| Expected Weighted Average Lives | 2.07 years | 2.25 years | |
| Closing Date | 25.10.2024 | 25.10.2024 | |
| Expected Repayment Date | July 2028 | July 2028 | |
| Legal Maturity Date | April 2032 | April 2032 | |
| Rating (S&P / Fitch / KBRA) | AAA(sf) / AAA(sf) / AAA(sf) | A+ / AA- / AA- | |
| Coupon | SONIA + 60 bp p.a. | SONIA + 125 bp p.a. | |
| Denomination | 100,000 GBP | 100,000 GBP | |
| Payment Frequency | monthly | monthly | |
| Redemption | 6m revolving period followed by sequential / pro rata mechanism pass through | 6m revolving period followed by sequential / pro rata mechanism pass through | |
| Form | Registered Notes | Registered Notes | |
| Listing | Luxembourg Stock Exchange | Luxembourg Stock Exchange |
Download Main Documents
- Driver UK 9 - Prospectus (PDF, 5.6 MB)
- Driver UK 9 - STS Notification (XLSX, 79.0 KB)
- Driver UK 9 - PCS STS Term Verification Checklist (PDF, 815.0 KB)
- Driver UK 9 - PCS CRR Assessment (PDF, 289.0 KB)
- Driver UK 9 - PCS LCR Assessment (PDF, 303.0 KB)
- Driver UK 9 - Rating Report Fitch (PDF, 698.0 KB)
- Driver UK 9 - Rating Report S&P (PDF, 4.7 MB)
- Driver UK 9 - Rating Report KBRA (PDF, 869.0 KB)
Driver UK Master regulatory disclosure
The regulatory disclosure section of the Driver UK transactions are stored in separate area of this homepage. To access them, you need to accept the disclaimer. Please click here to open the regulatory disclosure section of the Driver UK transactions.
Volkswagen Pon Financial Services B.V.
VCL Master Netherlands B.V.
| Class A Notes | Class B Notes | |
|---|---|---|
| Balance on Renewal | 855.6m EUR | 97.4m EUR |
| Ranking | Senior |
Junior |
| Initial Credit Enhancement | 32.90 % | 25.40 % |
| Expected Weighted Average Lives | 2.34 years | 2.59 years |
| Closing Date | 25.11.2024 | 25.11.2024 |
| Expected Repayment Date | January 2029 | January 2029 |
| Legal Maturity Date | March 2032 | March 2032 |
| Domestic Rating (DBRS/ Moody´s) | AAA(sf) / Aaa(sf) | Not Rated |
| Coupon | 1-m-EURIBOR + 0.67% p.a. | 1-m-EURIBOR + 1.35% 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 Notes | Global Registered Notes |
| Listing | Luxembourg Stock Exchange | Luxembourg Stock Exchange |
Download Main Documents
- Prospectus VCL Master NL 11.2024 (PDF, 1.9 MB)
- Press release Moody's VCL Master NL 11.2024 (PDF, 40.0 KB)
- Press release DBRS VCL Master NL 11.2024 (PDF, 62.0 KB)
- Rating Report Moody's VCL Master NL 11.2023 (PDF, 1.7 MB)
- Rating Report DBRS VCL Master NL 11.2021 (PDF, 360.0 KB)
- STS Notification VCL Master NL 11.2024 (XLSX, 249.0 KB)
- SVI Verification Report VCL Master NL 11.2024 (PDF, 563.0 KB)
- SVI CRR Assessment VCL Master NL 11.2023 (PDF, 162.0 KB)
Volkswagen D’Ieteren Finance SA
Driver Belgium Master
| Class A Notes | Class B Notes | |
|---|---|---|
| Balance on Renewal | 481m EUR | 21.25m EUR |
| Ranking | Senior |
Junior |
| Initial Credit Enhancement | 9.75 % | 5.76 % |
| Expected Weighted Average Lives | 2.25 years | 2.36 years |
| Closing Date | 25.02.2025 | 25.02.2025 |
| Expected Repayment Date | August 2028 | August 2028 |
| Legal Maturity Date | February 2035 | February 2035 |
| Domestic Rating (Fitch / Moody´s) | AAA(sf) / Aaa(sf) | AA- (sf) / Aa2(sf) |
| Coupon | 1-m-EURIBOR + 0.62% p.a. | 1-m-EURIBOR + 1.25% p.a. |
| Denomination | 250,000 EUR | 250,000 EUR |
| Payment Frequency | monthly | monthly |
| Redemption | sequential / pro rata / pass through | sequential / pro rata / pass through |
| Form | Dematerialised Notes under the Belgian Code of Companies and Associations | Dematerialised Notes under the Belgian Code of Companies and Associations |
| Listing | Luxembourg Stock Exchange | Luxembourg Stock Exchange |
Download Main Documents
- Prospectus Driver Belgium Master (PDF, 2.3 MB)
- STS Notification Driver Belgium Master (XLSX, 248.0 KB)
- SVI Verification Report Driver Belgium Master (PDF, 390.0 KB)
- New Issue Report Fitch (PDF, 703.0 KB)
- New Issue Report Moody´s (PDF, 2.1 MB)
- Press Release Moody´s (PDF, 41.0 KB)
- Press Release Fitch (PDF, 208.0 KB)
Volkswagen Financial Services Polska sp. z o.o.
VCL Master Poland
| Notes | |
|---|---|
| Balance on Renewal | PLN 1,500m |
| Ranking | Senior |
| Credit Enhancement | 20.50 % |
| Expected Weighted Average Lives | 1.96 years |
| Closing Date | 25.02.2025 |
| Expected Repayment Date | June 2028 |
| Legal Maturity Date | February 2034 |
| Coupon | 1-m-WIBOR+1.08% p.a. |
| Denomination | PLN 1,000,000 |
| Payment Frequency | monthly |
| Redemption | sequential / pro rata / pass through |
| Form | Global Registered Notes |
Download Main Documents
More Information about Volkswagen Financial Services AG
Disclaimer
The information contained on the following websites does not constitute an offer of or an invitation to subscribe for or purchase any securities, but is provided for information purposes only.
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In particular, information contained on the following websites does not constitute an offer of securities for sale or solicitation of an offer to buy securities in the United States of America. Any securities referred to in the information furnished on these websites have not been and will not be registered under the US Securities Act of 1933, as amended, and may be offered or sold in the United States of America only pursuant to an exemption from such registration. The information furnished on these websites is not intended to be available to any person in the United States of America or any US person (as that term is defined in Regulation S under the US Securities Act of 1933).
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