Hogan Lovells advises banks on Green Bond placements of Volkswagen Leasing GmbH
The Frankfurt capital markets team of the international law firm Hogan Lovells led by partner Dr Jochen Seitz advised UniCredit Bank GmbH (Lead Manager), Banco Bilbao Vizcaya Argentaria, S.A., Banco Santander, S.A., BNP Paribas, Landesbank Baden-Württemberg as well as MUFG Securities (Europe) N.V. on the placement of three Bonds issued by Volkswagen Leasing GmbH.
On January 11, 2024, the Bonds were issued with a volume of EUR 2.75 billion. The Bonds feature terms of 2.75, 4.75 and 7.25 years, a coupon of 3.625, 3.875 and 4.000 per cent. p.a. respectively and have been admitted to trading on the regulated market of the Luxembourg Stock Exchange. The Bonds were issued as Green Bonds in accordance with the ICMA Green Bond Principles.
The proceeds are to be used to refinance eligible green projects related to purely battery-powered vehicles. Further provisions on the selection and the evaluation of such projects are contained in the Green Finance Framework of Volkswagen Financial Services Aktiengesellschaft. After Volkswagen Financial Services Aktiengesellschaft Group issued Green Bonds with a volume of EUR 2 billion for the first time in September 2023, the volume was even exceeded with this second issuance.
The transaction is one of numerous green bond transactions that the Hogan Lovells team regularly advises on.
Hogan Lovells team
Dr Jochen Seitz (Partner), Dr Stefan Schrewe (Counsel), Anna Hersener (Associate), Christin Kotzur (Senior Business Lawyer), Ylenia Ruggieri (Senior Business Lawyer) (all Capital Markets).
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