Debt Issuance Programs are covering several issues on a roll over basis. The contractual program amount of such a program may not necessarily be identical with the current utilization. Despite the use of standardized documentation for each transaction, there is the greatest flexibility as to the terms and conditions of a particular issue.
The Volkswagen Group has various Debt Issuance Programs in different countries and currencies. Below, please find the key characteristics of the largest Debt Issuance Programs.
Euro 10.0 bn Multi-Currency Commercial Paper Programme Issuers: Volkswagen Aktiengesellschaft
Volkswagen International Finance N.V. (guaranteed by Volkswagen AG)
Volkswagen International Luxemburg S.A. (guaranteed by Volkswagen AG)
VW Credit, Inc. (guaranteed by Volkswagen AG) Porsche Holding GmbH
(guaranteed by Volkswagen AG) Volkswagen Financial Services AG Volkswagen Leasing GmbH
(guaranteed by Volkswagen Financial Services AG) Volkswagen Financial Services N.V.
(guaranteed by Volkswagen Financial Services AG) SkoFIN s.r.o., Praha, Czech Republic
(guaranteed by Volkswagen Financial Services AG)' Volkswagen Finans Sverige AB (publ)
Program amount:
Euro 10.0 billion
Arranger: Citibank International plc
Dealer: Banc of America Securities Limited Barclays Bank PLC
Bayerische Landesbank BNP Paribas Fortis SA/NV Citibank International plc
Commerzbank Aktiengesellschaft Danske Bank A/S
DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main
ING Bank N.V. Nordea Bank AB (publ)
Skandinaviska Enskilda Banken AB (publ) Svenska Handelsbanken AB (publ) Swedbank AB (publ)
The Royal Bank of Scotland plc UBS Limited
Issues: exclusively private placements Paying agent: Citibank N.A.
Euro 2.5 bn Multi-Currency Commercial Paper Programme Issuers: Volkswagen Bank GmbH
Program amount: Euro 2.5 billion
Arranger: Citibank International plc Dealer: Barclays Capital
Bayerische Landesbank BNP PARIBAS
Citibank International plc Danske Bank
Dresdner Kleinwort Wasserstein Handelsbanken Capital Markets ING Wholesale Banking Morgan Stanley SEB Merchant Banking The Royal Bank of Scotland Issues: exclusively private placements Paying agent: Citibank N.A.
JPY 60.0 bn Electronic Commercial Paper Programme Issuers: Volkswagen Financial Services Japan Ltd.
(guaranteed by Volkswagen Financial Services AG) Program amount: JPY 60.0 billion
Arranger: The Bank of Tokyo-Mitsubishi UFJ, Ltd. Dealer: The Bank of Tokyo-Mitsubishi UFJ, Ltd. Sumitomo Mitsui Banking Corporation Mizuho Corporate Bank, Ltd.
Issues: exclusively private placements
Paying agent: The Bank of Tokyo-Mitsubishi UFJ, Ltd.
MXN 20 bn Dual Capital Market Programme Issuers: Volkswagen Leasing S.A. de C.V. Program amount: MXN 20.0 billion
Arranger: HSBC Casa de Bolsa, S.A. de C.V. Casa de Bolsa Santander, S.A. de C.V. Grupo Financiero Santander México Dealer: Acciones y Valores Banamex, S.A. de C.V.
Casa de Bolsa, Integrante del Grupo Financiero Banamex Casa de Bolsa BBVA Bancomer, S.A. de C.V.
Grupo Financiero BBVA Bancomer HSBC Casa de Bolsa, S.A. de C.V. Grupo Financiero HSBC
Casa de Bolsa Santander, S.A. de C.V. Grupo Financiero Santander México IXE Casa de Bolsa, S.A. de C.V., Grupo Financiero Banorte
Scotia Inverlat Casa de Bolsa, S.A. de C.V., Grupo Financiero Scotiabank Inverlat Paying agent: CIBanco, S.A., Institución de Banca Múltiple
PLN 3.0 bn Debt Issuance Programme
Issuers: Volkswagen Bank Polska S.A.
(guaranteed by Volkswagen Financial Services AG) Volkswagen Leasing Polska Sp. z.o.o.
(guaranteed by Volkswagen Financial Services AG) Program amount: PLN 3.0 billion
Arranger: ING Bank Slaski S.A.
Dealer: BRE Bank S.A.
Bank Handlowy w Warszawie S.A. ING Bank Slaski S.A.
ABN Amro Bank (Polska) S.A.
Sociéte Générale S.A. Oddzial w Polsce Bank PEKAO S.A.
Paying agent: ING Bank Slaski S.A.
AUD 3.0 bn Debt Issuance Programme
Issuers: Volkswagen Financial Services Australia Pty Limited (guaranteed by Volkswagen Financial Services AG) Program amount: AUD 32.0 billion
Arranger: Australia and New Zealand Banking Group Limited Citigroup Global Markets Australia Pty Limited Dealer: Australia and New Zealand Banking Group Limited
Commonwealth Bank of Australia Deutsche Bank AG, Sydney Branch Merrill Lynch (Australia) Futures Limited Royal Bank of Canada
The Hongkong and Shanghai Corporation Limited, Sydney Branch
The Royal Bank of Scotland, Australia Branch Issues: public, syndicated and private placements Paying agent: Austraclear
Euro 30.0 bn Debt Issuance Programme Issuers: Volkswagen Aktiengesellschaft
Volkswagen International Finance N.V. (guaranteed by Volkswagen AG) VW Credit, Inc.
(guaranteed by Volkswagen AG) VW Credit Canada, Inc.
(guaranteed by Volkswagen AG)
Volkswagen International Luxemburg S.A. (guaranteed by Volkswagen AG)
Volkswagen Group of America Finance, LLC (guaranteed by Volkswagen AG)
Porsche Holding Gesellschaft m.b.H. (guaranteed by Volkswagen AG) Program amount: Euro 30.0 billion
Arranger: Barclays
Dealer: Barclays
BayernLB BNP PARIBAS BofA Merrill Lynch Crédit Agricole CIB Citigroup
Commerzbank Danske Bank A/S Deutsche Bank
Goldman Sachs International HSBC
J.P. Morgan
Landesbank Baden-Würtemberg Mizuho
RBC Capital Markets
Société Générale Corporate & Investment Banking The Royal Bank of Scotland
TD Securities UniCredit Bank
Issues: public, syndicated and private placements Paying agent: Citibank, N.A.
Euro 25.0 bn Debt Issuance Programme
Issuers: Volkswagen Financial Services AG Volkswagen Leasing GmbH
(guaranteed by Volkswagen Financial Services AG) Volkswagen Financial Services N.V.
(guaranteed by Volkswagen Financial Services AG) Volkswagen Financial Services Japan Ltd.
(guaranteed by Volkswagen Financial Services AG) Volkswagen Financial Services Australia PTY Limited (guaranteed by Volkswagen Financial Services AG) Program amount: Euro 25.0 billion
Arranger: Commerzbank
Dealer: Barclays
BayernLB BNP Paribas
BofA Merrill Lynch Citigroup
Commerzbank Danske Bank A/S Deutsche Bank Goldman Sachs HSBC J.P. Morgan Landesbank Baden-Württemberg Mizuho Securities RBC Capital Markets
Société Générale Corporate & Investment Banking TD Securities
The Royal Bank of Scotland Unicredit
Issues: public, syndicated and private placements Paying agent: Citibank, N.A.
Euro 10.0 bn Debt Issuance Programme Issuers: Volkswagen Bank GmbH Program amount: Euro 10.0 billion
Arranger: Commerzbank
Dealer: Barclays
BayernLB BNP Paribas BofA Merrill Lynch Citigroup
Commerzbank Danske Bank A/S Deutsche Bank Goldman Sachs HSBC J.P. Morgan Landesbank Baden-Württemberg Mizuho Securities RBC Capital Markets
Société Générale Corporate & Investment Banking TD Securities
The Royal Bank of Scotland Unicredit
Issues: public, syndicated and private placements Paying agent: Citibank, N.A.
MXN 7.0 bn Debt Issuance Programme Issuers: Volkswagen Bank S.A. Program amount: MXN 7.0 billion
Arranger: HSBC Casa de Bolsa, S.A. de C.V. Casa de Bolsa Santander, S.A. de C.V. Dealer: HSBC Casa de Bolsa, S.A. de C.V.
Casa de Bolsa Santander, S.A. de C.V. Paying agent: The Bank of New York Mellon
Euro 5.0 bn Belgian Short-Term Treasury Notes Programme Issuers: VOLKSWAGEN GROUP SERVICES NV/SA
Louizalaan 143 / 1 B - 1050 Brüssel Program amount: Euro 5.0 billion
Dealer: BNP Paribas
BRED Banque Populaire
Crédit Industriel et Commercial BNP Paribas Fortis SA/NV Société Générale
Issues: exclusively private placements Ratings: S&P: A1
