--- schema_version: "secwatch.filing_event.v1" accession: "0001104659-25-115892" form_type: "8-K" ticker: null cik: "0001182534" company_name: "VOLKSWAGEN AUTO LEASE/LOAN UNDERWRITTEN FUNDING, LLC" filed_at: "2025-11-25T23:59:59+00:00" generated_at: "2026-05-16T16:48:58.131130+00:00" event_type: "other_material" sentiment: "neutral" materiality_score: 0.5 calibrated_materiality_score: 0.5 confidence: "high" source: SEC EDGAR --- # Volkswagen Auto Loan Enhanced Trust 2025-2 closes $1B ABS notes issuance ## Summary - $1,000,000,000 aggregate initial principal of Class A-1 through A-4 notes issued on November 25, 2025. - Net pool balance of $1,141,319,033.76 as of Cut-Off Date, backed by auto retail contracts and loans. - Multiple definitive agreements executed including purchase, sale & servicing, indenture, and administration. - VW Credit, Inc. serves as sponsor and servicer; Depositor is Volkswagen Auto Lease/Loan Underwritten Funding, LLC. - Clayton Fixed Income Services LLC appointed as asset representations reviewer. ## SEC filing metadata - accession: 0001104659-25-115892 - form_type: 8-K - cik: 0001182534 - company_name: VOLKSWAGEN AUTO LEASE/LOAN UNDERWRITTEN FUNDING, LLC - filed_at: 2025-11-25T23:59:59+00:00 - event_type: other_material - sentiment: neutral - materiality_score: 0.5 - calibrated_materiality_score: 0.5 - confidence: high - sec_items: 1.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1182534/000110465925115892/0001104659-25-115892-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1182534/000110465925115892/tm2530801d15_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001104659-25-115892 - JSON: https://secwatch.observer/filing/0001104659-25-115892.json - Plain text: https://secwatch.observer/filing/0001104659-25-115892.txt ## Key facts - Material Agreements VOLKSWAGEN AUTO LEASE/LOAN UNDERWRITTEN FUNDING, LLC entered into Purchase Agreement with VW Credit, Inc. (VCI) (effective 2025-11-25). - Action: entry - Agreement: asset purchase - Counterparty: VW Credit, Inc. (VCI) - Effective: 2025-11-25 source text: Purchase Agreement, by and between VW Credit, Inc. (“VCI”) and Volkswagen Auto Lease/Loan Underwritten Funding, LLC (“VALU Funding”), pursuant to which VCI transferred to VALU Funding certain motor vehicle retail installment sales contracts and/or installment loans that are secured by new and used automobiles and sport utility vehicles (the “Receivables”) and related property. evidence_url: https://www.sec.gov/Archives/edgar/data/1182534/000110465925115892/0001104659-25-115892-index.htm - Material Agreements VOLKSWAGEN AUTO LEASE/LOAN UNDERWRITTEN FUNDING, LLC entered into Indenture with U.S. Bank Trust Company, National Association valued at $1,000,000,000 (effective 2025-11-25). - Action: entry - Agreement: notes offering - Counterparty: U.S. Bank Trust Company, National Association - Value: $1,000,000,000 - Effective: 2025-11-25 source text: nd among the Issuing Entity, VALU Funding, as seller, VCI, as servicer, and U.S. Bank Trust Company, National Association (the “Indenture Trustee”), pursuant to which the Receivables and related property were transferred to the Issuing Entity. evidence_url: https://www.sec.gov/Archives/edgar/data/1182534/000110465925115892/0001104659-25-115892-index.htm - Material Agreements VOLKSWAGEN AUTO LEASE/LOAN UNDERWRITTEN FUNDING, LLC amended Amended and Restated Trust Agreement with Deutsche Bank Trust Company Delaware (effective 2025-11-25). - Action: amendment - Counterparty: Deutsche Bank Trust Company Delaware - Effective: 2025-11-25 source text: Amended and Restated Trust Agreement, by and between VALU Funding and Deutsche Bank Trust Company Delaware (the “Owner Trustee”) which amended and restated the trust agreement pursuant to which Volkswagen Auto Loan Enhanced Trust 2025-2 (the “Issuing Entity”) was created. evidence_url: https://www.sec.gov/Archives/edgar/data/1182534/000110465925115892/0001104659-25-115892-index.htm - Material Agreements VOLKSWAGEN AUTO LEASE/LOAN UNDERWRITTEN FUNDING, LLC entered into Sale and Servicing Agreement with Issuing Entity, VALU Funding, VCI, and U.S. Bank Trust Company, National Association (effective 2025-11-25). - Action: entry - Agreement: asset purchase - Counterparty: Issuing Entity, VALU Funding, VCI, and U.S. Bank Trust Company, National Association - Effective: 2025-11-25 source text: Sale and Servicing Agreement, by and among the Issuing Entity, VALU Funding, as seller, VCI, as servicer, and U.S. Bank Trust Company, National Association (the “Indenture Trustee”), pursuant to which the Receivables and related property were transferred to the Issuing Entity. evidence_url: https://www.sec.gov/Archives/edgar/data/1182534/000110465925115892/0001104659-25-115892-index.htm - Material Agreements VOLKSWAGEN AUTO LEASE/LOAN UNDERWRITTEN FUNDING, LLC entered into Administration Agreement with Issuing Entity, VCI, and the Indenture Trustee (effective 2025-11-25). - Action: entry - Agreement: notes offering - Counterparty: Issuing Entity, VCI, and the Indenture Trustee - Effective: 2025-11-25 source text: Administration Agreement, by and among the Issuing Entity, VCI, as administrator, and the Indenture Trustee, relating to the provision by VCI of certain services relating to the Issuing Entity and the Notes. evidence_url: https://www.sec.gov/Archives/edgar/data/1182534/000110465925115892/0001104659-25-115892-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.