Hogan Lovells advises banks on the establishment of debt issuance programmes of Volkswagen Financial Services AG and Volkswagen Financial Services Overseas AG

The programmes were established following the implementation of the corporate restructuring of Volkswagen Financial Services AG, Volkswagen Bank GmbH and Volkswagen Financial Services Overseas AG as of 1 July 2024. As part of the new structure, a majority of the German and European companies will now be consolidated in the new financial holding company Volkswagen Financial Services AG supervised by the European Central Bank. Within the new structure, Volkswagen Bank is a subsidiary of Volkswagen Financial Services AG.

Volkswagen Financial Services Overseas AG will manage the non-European financial services business. Both companies are wholly owned subsidiaries of Volkswagen AG. The programme establishments constitute the final step towards ensuring capital markets capacity of Volkswagen Financial Services AG and Volkswagen Financial Services Overseas AG following the implementation of the corporate restructuring. 

The Hogan Lovells team has been advising the banks for many years with regard to the debt issuance programmes of Volkswagen Financial Services AG and most recently also advised on the establishment of the commercial paper programmes.

Hogan Lovells also advised on the impact of the corporate restructuring on the securitisation programmes of Volkswagen Bank GmbH and its subsidiaries and affiliates. 

Hogan Lovells team for the banks

Dr Jochen Seitz (Partner), Dr Stefan Schrewe (Counsel), Anna Hersener (Associate), Fabian Jacksch (Associate) (all Debt Capital Markets, Frankfurt);

Jens Uhlendorf (Partner, Corporate & Finance, Dusseldorf);

Dr Heiko Gemmel (Partner, Tax Law, Dusseldorf);

Dr Sven Brandt (Partner), Sebastian Oebels (Counsel) (both Capital Markets Law on securitisation transactions, Frankfurt).