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Volkswagen Leasing has placed two bonds worth €2.25 billion euros to fund leasing portfolio growth.

The majority of the investors participating in the issue were European with a share of over 90%, with the highest regional concentration in Germany and France.

Frank Fiedler, chief financial officer of Volkswagen Financial Services, said: “Our leasing portfolio has grown continuously over the last few years.

“During the first half of 2017, the level of current leasing contracts grew worldwide by 8%.

“Our good positioning on the capital market is supporting this growth.”

Altogether, the transaction was more than two times oversubscribed, with Fiedler adding: “We assess the current transaction as very successful. The high demand shown once again by numerous investors confirms the high level of acceptance we have achieved on the capital market. "

Volkswagen Leasing is a wholly-owned subsidiary of Volkswagen Financial Services, which has more than 15,000 employees worldwide and total assets of around €170 billion, with 18.2 million current contracts at the end of last year.