Volkswagen Auto Lease Trust 2024-A closes $1.5B asset-backed note issuance

VOLKSWAGEN AUTO LEASE/LOAN UNDERWRITTEN FUNDING, LLC

Issued $1.5B aggregate principal of Class A-1, A-2-A, A-2-B, A-3, A-4 Asset Backed Notes on March 27, 2024.
Notes backed by Volkswagen and Audi auto lease receivables; VW Credit, Inc. as servicer.
Seven definitive agreements executed including Indenture with Citibank N.A. as indenture trustee.
Proceeds used for securitization funding via a special unit of beneficial interest (SUBI) structure.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

VOLKSWAGEN AUTO LEASE/LOAN UNDERWRITTEN FUNDING, LLC entered into Indenture with Citibank, N.A. valued at $1,500,000,000 (effective 2024-03-27).

Action: entry
Agreement: underwriting
Counterparty: Citibank, N.A.
Value: $1,500,000,000
Effective: 2024-03-27

Exact text from the filing

Item 1.01. Entry into a Material Definitive Agreement. In connection with the sale of the Class A-1, Class A-2-A, Class A-2-B, Class A-3 and Class A-4 Asset Backed Notes (collectively, the “Notes”) of Volkswagen Auto Lease Trust 2024-A (the “Issuing Entity”), which are described in the Final Prospectus dated March 19, 2024 and which were issued on March 27, 2024 (the “Closing Date”), the Co-Registrants are filing the agreements listed below , each dated as of the Closing Date.

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Source: SEC EDGAR

accession 0001104659-24-040335

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