Asset Backed Securities
Im Rahmen der Asset Backed Securities (ABS-Aktivitäten) werden Forderungen (Leasing, Händler, Retail) verbrieft und anschließend an speziell gegründete Gesellschaften verkauft. Diese refinanzieren sich wiederum über AB-CP’s und Anleihen, die am Geld- und Kapitalmarkt begeben werden.
Volkswagen Leasing GmbH
VCL 11
Class A |
Class B |
|||
| Initial Balance | 500.0 mn EUR |
19.1 mn EUR |
||
Ranking |
Senior |
Junior |
||
| Initial Credit Enhancement | 9.70% |
6.20% |
||
| Expected Weighted Average Live | 1,33 years |
1,73 years |
||
Expected Final Payment Date |
Aug 2014 |
Aug 2014 |
||
| Legal Final Maturity | Aug 2015 |
Aug 2015 |
||
Preliminary Rating (Moody's,S&P) |
AAA/AAA |
A+/A+ |
||
Coupon |
1-M-Euribor |
1-M-Euribor |
||
Denomination |
50,000 EUR |
50,000 EUR |
||
Payment Frequency |
monthly |
monthly |
||
Redemption |
sequential/pro rata/ |
sequential/pro rata/ |
||
| Form | Global Bearer |
Global Bearer |
||
Listing |
Luxembourg Stock |
Luxembourg Stock |
||
Volkswagen Leasing GmbH
VCL 12
Class A |
Class B |
|||
| Initial Balance | 500.0 mn EUR |
19.1 mn EUR |
||
Ranking |
Senior |
Junior |
||
| Initial Credit Enhancement | 9.70% |
6.20% |
||
| Expected Weighted Average Live | 1,19 years |
1,56 years |
||
Expected Final Payment Date |
June 2015 |
June 2015 |
||
| Legal Final Maturity | June 2016 |
June 2016 |
||
Preliminary Rating (Moody's,S&P) |
AAA(sf)/AAA(sf) |
A+(sf)/A+(sf) |
||
Coupon |
1-M-Euribor |
1-M-Euribor |
||
Denomination |
100,000 EUR |
100,000 EUR |
||
Payment Frequency |
monthly |
monthly |
||
Redemption |
sequential/pro rata/ pass through |
sequential/pro rata/ pass through |
||
Form |
Global Bearer |
Global Bearer |
||
Listing |
Luxembourg Stock |
Luxembourg Stock |
||
Volkswagen Leasing GmbH
VCL 13
| Class A | Class B | |
|||
| Initial Balance | 920.0 mn EUR |
33.0 mn EUR | |||
| Ranking | Senior | Junior | |||
| Initial Credit Enhancement | 9.20% | 5.90 % | |||
| Expected Weighted Average Live | 1.31 years | 1.78 years | |||
| Expected Final Payment Date | Feb 2016 | Feb 2016 | |||
| Legal Final Maturity | Feb 2017 | Feb 2017 | |||
| Preliminary Rating (Moody's,DBRS, S&P) |
Aaa(sf)/AAA(sf)/ AAA(sf) |
A1 (sf)/A high(sf)/ A+ (sf) |
|||
| Coupon | 1-M-Euribor +0.63% |
1-M-Euribor +1.45 % |
|||
| Denomination | 100,000 EUR | 100,000 EUR | |||
| Payment Frequency | monthly | monthly | |||
| Redemption | sequential/pro rata/ pass through |
sequential/pro rata/ pass through |
|||
| From | Global Bearer | Global Bearer | |||
| Listing | Luxembourg Stock |
Luxembourg Stock Exchange |
|||
Volkswagen Leasing GmbH
VCL14
Class A |
Class B |
|||
| Initial Balance | 790.0 mn EUR |
25.6 mn EUR |
||
Ranking |
Senior |
Junior |
||
| Initial Credit Enhancement | 8.70% |
5.70% |
||
| Expected Weighted Average Live | 1,30 years |
1,85 years | ||
Expected Final Payment Window |
July 2016 |
July 2016 |
||
| Legal Final Maturity | July 2017 |
July 2017 |
||
Preliminary Rating (Moody's,DBRS,S&P) |
Aaa(sf)/AAA(sf)/ |
A1(sf)/A+(sf)/ |
||
Coupon |
1-M-Euribor |
1-M-Euribor |
||
Denomination |
100,000 EUR |
100,000 EUR |
||
| Payment Frequency | monthly |
monthly |
||
Redemption |
sequential/pro rata/ pass through |
sequential/pro rata/ pass through |
||
| Form | Registered Notes (RegS) |
Registered Notes (RegS) |
||
Listing |
Luxembourg Stock |
Luxembourg Stock |
||
Volkswagen Leasing GmbH
VCL 15
| Class A | Class B | |||
| Initial Balance | 930.0 mn EUR | 28.0 mn EUR | ||
| Ranking | Senior | Junior | ||
| Initial Credit Enhancement | 8.20% | 5.40% | ||
| Expected Weighted Average Live | 1,31 years | 1,92 years | ||
| Scheduled Repayment Date | January 2017 | January 2017 | ||
| Legal Maturity Date | January 2018 | January 2018 | ||
| Preliminary Rating (Moody's,DBRS,S&P) |
Aaa(sf)/AAA(sf)/ |
A1(sf)/A high (sf)/ |
||
| Coupon | 1-M-Euribor +0.53% |
1-M-Euribor +1.30% |
||
| Denomination | 100,000 EUR | 100,000 EUR | ||
| Payment Frequency | monthly | monthly | ||
| Redemption | sequential/pro rata/ pass through |
sequential/pro rata/ pass through |
||
| Form | Registered Notes (RegS) |
Registered Notes (RegS) |
||
| Listing | Luxembourg Stock Exchange |
Luxembourg Stock Exchange |
||
Volkswagen Bank GmbH
Driver Three
Class A |
Class B |
|||
| Initial Balance | 924.5 mn EUR |
35.0 mn EUR |
||
Ranking |
Senior |
Junior |
||
| Initial Credit Enhancement | 9.00% |
5.55% |
||
| Expected Weighted Average Live | 4,20 years |
4,20 years |
||
| Legal Final Maturity | Oct 2015 |
Oct 2015 |
||
Preliminary Rating |
AAA/Aaa/AAA | A+/A1/A+ |
||
Coupon |
1-M-Euribor |
1-M-Euribor |
||
Denomination |
50,000 EUR |
50,000 EUR |
||
| Payment Frequency | monthly |
monthly |
||
Redemption |
sequential/pro rata pass through |
sequential/pro rata pass through |
||
| Form | Global Bearer |
Global Bearer |
||
Listing |
Luxembourg Stock |
Luxembourg Stock |
||
Volkswagen Bank GmbH
Driver Six
Class A |
Class B |
|||
| Initial Balance | 936.0 mn EUR |
31.0 mn EUR |
||
Ranking |
Senior |
Junior |
||
| Initial Credit Enhancement | 7.90% |
4.80% |
||
Expected Weighted Average Live |
1,92 years |
2,36 years |
||
Expected Final Payment Date |
April 2012 |
April 2012 |
||
| Legal Final Maturity | Sep 2014 |
Sep 2014 |
||
Preliminary Rating |
AAA/Aaa/AAA | A+/A1/A+ |
||
Coupon |
1-M-Euribor |
1-M-Euribor |
||
Denomination |
50,000 EUR |
50,000 EUR |
||
| Payment Frequency | monthly |
monthly |
||
Redemption |
sequential/pro rata/ pass through |
sequential/pro rata/ pass through |
||
| Form | Global Bearer |
Global Bearer |
||
Listing |
Luxembourg Stock |
Luxembourg Stock |
||
Volkswagen Bank GmbH
Driver Seven
| |
Class A | Class B | ||
| Initial Balance |
500.0 mn EUR | 500.0 mn EUR | ||
| Ranking |
Senior | Junior | ||
| Initial Credit Enhancement |
9.80% | 6.30% | ||
Expected Weighted |
1,983 years | 2,13 years |
||
| Expected Final Payment Date |
Sep 2013 | Sep 2013 | ||
| Legal Final Maturity |
April 2016 | April 2016 | ||
| Preliminary Rating (Fitch,Moody's) |
AAA/AAA | A+/A+ | ||
| Coupon |
1-M-Euribor +0.70% p.a. |
1-M-Euribor +1.65% p.a. |
||
| Denomination |
50,000 EUR | 50,000 EUR | ||
| Payment Frequency |
monthly | monthly | ||
| Redemption |
sequential/pro rata/ pass through |
sequential/pro rata/ pass through |
||
| Form |
Global Bearer | Global Bearer | ||
| Listing | Luxembourg Stock Exchange |
Luxembourg Stock Exchange |
||
Volkswagen Bank GmbH
Driver Eight
| |
Class A | Class B | ||
| Initial Balance |
690.0 mn EUR | 24.4 mn EUR | ||
| Ranking |
Senior |
Junior |
|
|
| Initial Credit Enhancement |
9.20% | 5.95 % | ||
| Expected Weighted Average Live |
1,82 years | 2,21 years | ||
| Expected Final Payment Date |
Feb 2016 | Feb 2016 | ||
| Legal Final Maturity |
Feb 2017 | Feb 2017 | ||
Preliminary Rating (Fitch, |
AAA(sf)/Aaa(sf)/ AAA(sf) |
A+(sf)/A1(sf)/ A high(sf) |
||
| Coupon |
1-M-Euribor +0.70% p.a. |
1-M-Euribor +1.60% p.a. |
||
| Denomination |
100,000 EUR | 100,000 EUR | ||
| Payment Frequency |
monthly | monthly | ||
| Redemption |
sequential/pro rata/ pass through |
sequential/pro rata/ pass through |
||
| Form |
Global Bearer | Global Bearer | ||
| Listing |
Luxembourg Stock Exchange |
Luxembourg Stock Exchange |
Volkswagen Bank GmbH
Driver Nine
| Class A | Class B | |||
| Initial Balance | 690.0 mn EUR | 24.4 mn EUR | ||
| Ranking | Senior | Junior | ||
| Initial Credit Enhancement | 9.20 % | 5.95 % | ||
| Expected Weighted Average Live | 1,74 years | 2,13 years | |
|
| Expected Final Payment Date | April 2016 | April 2016 | |
|
| Legal Final Maturity | April 2017 |
April 2017 | |
|
| Preliminary Rating (Fitch, Moody's,DBRS,S&P) |
AAA(sf)/Aaa(sf)/ AAA(sf)/AAA(sf) |
A+(sf)/A1(sf)/ A high(sf)/A+(sf) |
|
|
| Coupon | 1-M-Euribor +0.60% p.a. |
1-M-Euribor +1.45% p.a. |
||
| Denomination | 100,000 EUR | 100,000 EUR | ||
| Payment Frequency | monthly | monthly | |
|
| Redemption | sequential/pro rata/ pass through |
sequential/pro rata/ pass through |
||
| Form | Global Bearer | Global Bearer | ||
| Listing | Luxembourg Stock Exchange |
Luxembourg Stock Exchange |
||
Volkswagen Finance S.A.
Driver España One
| Class A | Class B |
|
||
| Initial Balance | 570.5 mn EUR | 58.4 mn EUR |
|
|
| Ranking | Senior | Junior |
|
|
| Initial Credit Enhancement | 19.00% | 10.50% |
|
|
Expected Weighted Average Live |
1,43 years | 1,87 years |
|
|
| Expected Final Payment Date | Oct 2014 | Oct 2014 |
|
|
Legal Final Maturity |
Sep 2022 | Sep 2022 |
|
|
| Rating (Fitch,S&P) | AAA(sf)/AAA(sf) | A+(sf)/A+(sf) |
|
|
| Coupon | 1-M-Euribor +1.25% p.a. |
1-M-Euribor +2.75% p.a. |
|
|
| Denomination | 100,000 | 100,000 |
|
|
| Payment Frequency | monthly | monthly |
|
|
| Redemption | sequential/pro rata/ pass through |
sequential/pro rata/ pass through |
|
|
| Form | Book Entries | Book Entries |
|
|
| Listing | AIAF Fixed Income Market |
AIAF Fixed Income Market |
|
|
Volkswagen Financial Services Japan Ltd.
Driver Japan One
| Trust Beneficial Interest |
Asset Backed Loan | |||
| Initial Balance | 18.9 bn JPY | 6.1 bn JPY | ||
| Ranking | Senior | Senior | ||
| Initial Credit Enhancement | 9.20% | 9.20% | ||
| Expected Weighted Average Live | 2,10 years | 2,10 years | ||
| Expected Final Payment Date | Sep 2015 | Sep 2015 | ||
| Legal Final Maturity | May 2020 | May2020 | ||
| Rating (Moody's,S&P,R&I) | Aaa(sf)/AAA(sf)/ AAA |
Aaa(sf)/AAA(sf)/ AAA |
||
| Coupon | 0.73% p.a. | 0.73% p.a. | ||
| Denomination | 100,000,000 JPY | 100,000,000 JPY | ||
| Payment Frequency | monthly | monthly | ||
| Redemption | sequential/pro rata/ pass through |
sequential/pro rata/ pass through |
||
| Form | TBI | ABL | ||
| Listing | n.a. | n.a. | ||