Hogan Lovells advises banks on placement of Volkswagen Bank GmbH Green Bonds totaling EUR 2.5 billion

Hogan Lovells advised a syndicate of banks consisting of BofA Securities Europe SA, DBS Bank Ltd., Deutsche Bank Aktiengesellschaft, Intesa Sanpaolo S.p.A., Mizuho Bank Europe N.V. and UniCredit Bank GmbH on the placement of three Green Bonds issued by Volkswagen Bank GmbH. The transaction comprised the issuance of three senior preferred Green Bonds with a total issuance volume of EUR 2.5 billion. One bond carries a two‑year term with a floating interest rate, while the other two bonds have terms of four and seven years with coupons of 3.125% and 3.750% per annum respectively. The bonds were successfully placed and admitted to trading on the regulated market of the Luxembourg Stock Exchange on 10 December 2025. The bonds were issued as Green Bonds in accordance with the Green Finance Framework of Volkswagen Financial Services AG, dated November 2025, which follows the ICMA Green Bond Principles. The net proceeds are to be used to refinance eligible green projects relating to financing products for BEVs (Battery Electric Vehicles), thereby supporting the sales of electric vehicles from Volkswagen Group brands. Hogan Lovells has for many years advised the banks in relation to the debt issuance programmes of Volkswagen Financial Services AG and related entities. Hogan Lovells represented client(s) the syndicate of banks (BofA Securities Europe SA; DBS Bank Ltd.; Deutsche Bank Aktiengesellschaft; Intesa Sanpaolo S.p.A.; Mizuho Bank Europe N.V.; UniCredit Bank GmbH) with a team composed by: Dr. Jochen Seitz (Partner, Debt Capital Markets, Frankfurt), Dr. Stefan Wollmert‑Schrewe (Counsel, Debt Capital Markets, Frankfurt), Anna Hersener (Associate, Debt Capital Markets, Frankfurt).

Hogan Lovells advises banks on placement of Volkswagen Bank GmbH Green Bonds totaling EUR 2.5 billion

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