Volkswagen Financial Services issue bonds worth 550 million Australian dollars
- Largest transaction by Volkswagen Financial Services to date in the Australian capital market
"The refinancing of our business in local currency is an important success factor for our further growth and a key element of our diversified funding strategy," said Frank Fiedler, CFO of Volkswagen Financial Services AG. He added: "The high demand and favorable refinancing conditions demonstrate the trust and confidence placed in us by our investors, for which we thank them very much."
The bonds were marketed by a syndicate of banks comprising Australia & New Zealand Banking Group Limited, The Hongkong and Shanghai Banking Corporation and MUFG Securities Asia Ltd.
|Bond 1||Bond 2
|Issuer||Volkswagen Financial Services Australia Pty Limited|
|Guarantor||Volkswagen Financial Services AG|
|Volume||AUD 450 million||AUD 100 million|
||3 years||5 years|
|Cupon||1.20 % p. a.
|2.00 % p. a.
|Issue Price||99.841 %||99.740 %|
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, Volkswagen Bank GmbH, Porsche Financial Services, and the financial services companies in the USA and Canada that belong directly or indirectly to Volkswagen AG – with the exception of the financial services of the Scania brand 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 16,558 employees worldwide – including 7,472 alone in Germany. Volkswagen Financial Services report total assets of around EUR 225.6 billion, an operating result of EUR 2.8 billion and a portfolio of around 21.9 million current contracts (as at: 31.12.2020).
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Dennis Eisenhauer (Press Officer)
Tel.: + 49 531 / 212-5541