Mayer Brown advised a syndicate of banks on the underwriting and placement of EUR 3.5 billion Notes by Volkswagen Leasing GmbH issued under the EUR 25 billion debt issuance programme of Volkswagen Financial Services Aktiengesellschaft and further issuers.

The issue is divided into three separate notes, each guaranteed by Volkswagen Financial Services Aktiengesellschaft. Two notes have a floating rate of interest and are due 6 July 2019 and 6 July 2021, respectively, while the third series has a rate of interest set at 1.375 percent and is due 20 January 2025.

The banking consortium included Barclays Bank PLC (technical lead), Banco Bilbao Vizcaya Argentaria, S.A., Banco Santander S.A and Société Générale.

Prior to this, Mayer Brown has already advised on the update of the debt issuance programme.

The Mayer Brown Team included partner Dr. Jochen Seitz (lead), senior associate Markus Brusch and associate Stefan Schrewe (all Banking & Finance, Frankfurt).