Global law firm Hogan Lovells has advised a syndicate of banks consisting of Banco Bilbao Vizcaya Argentaria, S.A, BNP PARIBAS, Citigroup Global Markets Europe AG, Commerzbank AG and SMBC Bank EU AG on the placement of three Green Bonds issued by Volkswagen Bank GmbH with a total issuance volume of EUR 2.75 billion.
The bonds featuring terms of 2.5, 4.5 and 7.5 years have coupons of 3.625 per cent., 4.000 per cent. and 4.375 per cent p.a. respectively. The bonds were successfully placed and admitted to trading on the regulated market of the Luxembourg Stock Exchange on 26 May 2026.
The senior non-preferred bonds were issued as green bonds in accordance with the Green Finance Framework of Volkswagen Financial Services AG, the parent company of Volkswagen Bank GmbH, as of November 2025, which follows the ICMA Green Bond Principles. The proceeds are to be used to refinance eligible green projects relating to financing products for BEVs (Battery Electric Vehicles), i.e. purely battery-powered vehicles. In doing so, Volkswagen Bank GmbH is supporting the sales of electric vehicles from the Volkswagen Group brands.
The Hogan Lovells team has been advising the banks for many years with regard to the debt issuance programmes of Volkswagen Financial Services AG et al.
The Hogan Lovells team was led by partner Dr. Jochen Seitz with support from counsel Dr. Stefan Wollmert-Schrewe and associate Anna Hersener (all Debt Capital Markets, Frankfurt).
