Clifford Chance
Clifford Chance advises Volkswagen Aktiengesellschaft and Volkswagen International Finance N.V. on the issuance of U.S.$ 2.7 billion of bonds to institutional investors
11 April 2011
Clifford Chance advises Volkswagen Aktiengesellschaft and Volkswagen International Finance N.V. on the issuance of U.S.$ 2.7 billion of bonds to institutional investors
The international law firm Clifford Chance advised Volkswagen Aktiengesellschaft and its subsidiary Volkswagen International Finance N.V. on the issuance of U.S.$ 2.7 billion of bonds by Volkswagen International Finance N.V. primarily to U.S. institutional investors pursuant to Rule 144A of the Securities Act of 1933. The bonds are irrevocably and unconditionally guaranteed by Volkswagen Aktiengesellschaft.
The bonds were issued in four tranches: the U.S.$ 700 million 1.875% senior notes due 2014, the U.S.$ 650 million 2.875% senior notes due 2016, the U.S.$ 500 million floating rate senior notes due 2012, and the U.S.$ 850 million floating rate senior notes due 2014.
The Clifford Chance advisory team consisted of partner George Hacket, counsel David Detweiler and associate Arnold Luschin (US law, Banking & Capital Markets, Frankfurt). German law advice was provided by partner Sebastian Maerker and transaction lawyer Katharina Rosenthal (Banking & Capital Markets, Frankfurt), Dutch law advice by partner Frank Graaf, counsel Jurgen van der Meer and associate Niek Dongelmans (Finance & Capital Markets, Amsterdam) and English law advice by partner Robert MacVicar and associate Irina Ignatieva (Capital Markets, London).
