Volkswagen Group in the international capital markets
International capital markets are of particular importance for the funding strategy of the Volkswagen Group as they provide liquidity at favourable conditions.
We are active in capital markets through the issue of Commercial Papers (short term debt), Medium Term Notes (medium and long term debt), Asset Backed Securities (Securitization) and other financial instruments. Our Debt Issuance Programs in various countries and currencies help to increase the flexibility of these measures.
Declaration re. Client Classification under MiFID/WpHG Rules
European Market Infrastructure Regulation "EMIR"
Based on current knowledge neither Volkswagen Aktiengesellschaft and its fully consolidated subsidiaries established in the European Union that are non-financial counterparties (as defined in EMIR) nor Volkswagen Aktiengesellschaft's fully consolidated subsidiaries established outside the European Union that would constitute non-financial counterparties (as defined in EMIR) if they were established in the European Union would be subject to the clearing obligation pursuant to EMIR in respect of its OTC derivatives (as defined in EMIR).