Hogan Lovells advises Volkswagen D’Ieteren Finance SA. and Volkswagen Financial Services AG on the setup of its €1billion master platform for securitisation of auto loans

The securitisation master platform in Belgium is Volkwagen's first new master platform since 2018 and Volkswagen's first securitisation in Belgium. Sven Brandt, client relationship partner for Volkswagen at Hogan Lovells said: “We have been delighted to assist Volkswagen on this groundbreaking transaction. In particular given the volatile market environment it is a big achievement for all parties involved and proof of Hogan Lovells' strong securitisation practice in Belgium."

Under the master platform seven initial series of notes have been issued. The most senior tranche has been rated AAAsf (Fitch) and Aaa(sf) (Moody’s). Moreover, the transaction complies with the high standards of an STS securitisation under the EU Securitisation Regulation, which has been verified by STS Verification International GmbH.

Volkswagen D’Ieteren Finance SA, a subsidiary of Volkswagen Financial Services AG, is a Belgium credit institution based in Brussels which focusses, inter alia, on the procurement of financing solutions for individuals and car-dealers.

ING Bank N.V. acted as arranger and sole lead manager. The notes have been listed at the regulated market of the Luxembourg Stock Exchange.

Hogan Lovells is frequently engaged with securitisation transactions for Volkswagen Financial Services AG and its subsidiaries across Europe and the United Kingdom.

The Hogan Lovells team included, in Brussels, Philip Van Steenwinkel (partner) and Frederik Stappers (associate), Dr. Sven Brandt (partner), Sebastian Oebels (counsel), and Dilek Ovic (associate); Didem Savas (projects associate), Leyla Memis (business lawyer) in Frankfurt ; Sharon Lewis (partner), Ailsa Davies (senior associate) and Joanna Veitch (associate) in Paris.