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Volkswagen Financial Services issues bonds in 3 currencies

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Volkswagen Financial Services issues bonds in 3 currencies

Volkswagen Financial Services AG issued bonds in Russian rubles and British pounds, in addition to unit Volkswagen Leasing GmbH's earlier issuance of three series of bonds worth €2.5 billion.

Volkswagen Financial Services issued a bond worth £500 million, which has an interest rate of 1.875% annually and a term of slightly more than three years.

Meanwhile, unit OOO Volkswagen Bank RUS issued a bond worth 5 billion rubles, which has a coupon of 8.60% annually and a term of three years.

As of Aug. 9, US$1 was equivalent to 66.27 Russian rubles.