Press Release

Volkswagen Financial Services again placed bond in ruble

Braunschweig, 6 October 2016. Volkswagen Bank RUS LLC, a subsidiary of Volkswagen Financial Services AG, has placed a bond in rubles (RUB) on the Russian capital market with a volume of RUB five billion (around EUR 71 million) for the second time this year. The transaction is part of the local issuance programme of Volkswagen Bank RUS LLC totalling 100 billion rubles. The rating agency Standard & Poor's assesses the credit quality of the bond with the grade "BB+" at the level of the Russian Federation. The term of the bond is seven years whereas a repayment option after one and a half year is a structural element of the transaction. The coupon of 9.80 percent per year is payable semi-annually.

Volkswagen Financial Services have been operating on the Russian market since 2003. The financial services provided by the various companies embrace leasing, financing and insurance products for both private and business customers.

Bond overview:

Issuer:                                Volkswagen Bank RUS LLC
Guarantor:                       Volkswagen Financial Services AG
Volume:                            5 Mrd. RUB
Rating:                              BB+ (Standard & Poor‘s)
Term:                                 7 Jahre
Repayment option:      nach 1,5 Jahre
Interest payment:        halbjährlich
Coupon:                           9,80% p.a.
Issuing price:                 100%
Stock exchange:           Moscow Exchange

A banking consortium comprising Raiffeisen Bank and UniCredit marketed the bond issue.

Information for editors:

Volkswagen Financial Services are a business division of the Volkswagen AG group of companies and comprise Volkswagen Financial Services AG along with its associated companies and the financial service companies in the USA, Canada, Argentina and Spain that belong directly or indirectly to Volkswagen AG – with the exception of the financial services of the Scania and Porsche brands and Porsche Holding Salzburg. The key business fields embrace dealer and customer financing, leasing, the bank and insurance business, fleet management and mobility offers. Volkswagen Financial Services have a total of 15,182 employees worldwide – including 6,513 alone in Germany. Volkswagen Financial Services reported total assets of around EUR 157.9 billion, an operating result of EUR 1.9 billion and a portfolio of around 16.6 million current contracts (as at: 31.12.2015).

Contact for press inquiries:

Marc Siedler (Press Officer)
Phone: + 49 (0)531 / 212-87675