Hogan Lovells advises banks on VW Bank green bonds
Hogan Lovells has advised a syndicate of banks — comprising Banco Bilbao Vizcaya Argentaria, BNP Paribas, Citigroup Global Markets Europe, Commerzbank and SMBC Bank EU — on the placement of three green bonds issued by Volkswagen Bank, with a total issuance volume of EUR 2.75 billion. The bonds were admitted to trading on the regulated market of the Luxembourg Stock Exchange.
The three bonds carry terms of 2.5, 4.5 and 7.5 years, with coupons of 3.625%, 4.000% and 4.375% per annum respectively. Issued as senior non-preferred bonds, they were structured in accordance with the Green Finance Framework of Volkswagen Financial Services, the parent company of Volkswagen Bank, dated November 2025, which follows the ICMA Green Bond Principles.
The proceeds from the issuance are earmarked to refinance eligible green projects related to financing products for battery electric vehicles (BEVs) — purely battery-powered vehicles.
The Hogan Lovells team
The Hogan Lovells team was led by partner Jochen Seitz (pictured), with support from counsel Stefan Wollmert-Schrewe and associate Anna Hersener, all from the debt capital markets practice in Frankfurt.
