Volkswagen Auto Lease Trust 2026-A closes $1.71B ABS notes issuance

VOLKSWAGEN AUTO LEASE/LOAN UNDERWRITTEN FUNDING, LLC

Issued $1.71B in Class A-1, A-2-A, A-2-B, A-3 and A-4 asset-backed notes on March 24, 2026.
Notes backed by Volkswagen and Audi retail lease contracts and related vehicles.
VW Credit, Inc. will service the lease portfolio; Citibank, N.A. serves as indenture trustee.
Proceeds used to purchase the Transaction SUBI certificate representing beneficial interest in the leases.
Transaction documents include SUBI supplement, sale agreement, trust agreement, administration agreement.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

VOLKSWAGEN AUTO LEASE/LOAN UNDERWRITTEN FUNDING, LLC entered into Transaction SUBI Supplement 2026-A to Origination Trust Agreement with U.S. Bank Trust Company, National Association, Wilmington Trust Company (effective 2026-03-24).

Action: entry
Counterparty: U.S. Bank Trust Company, National Association, Wilmington Trust Company
Effective: 2026-03-24

Exact text from the filing

Transaction SUBI Supplement 2026-A to Origination Trust Agreement, by and among VW Credit, Inc. (“VCI”), as owner of the entire undivided interest in VW Credit Leasing, Ltd. (the “Origination Trust”), U.S. Bank Trust Company, National Association (the “UTI Trustee”, the “SUBI Trustee” and the “Administrative Trustee”) and Wilmington Trust Company (the “Delaware Trustee”), pursuant to which the Origination Trust issued a certificate (the “Transaction SUBI Certificate”) evidencing a special unit of beneficial interest in certain of the Origination Trust’s retail automobile leases, the related Volkswagen and Audi leased vehicles and related property (the “Included Units”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

VOLKSWAGEN AUTO LEASE/LOAN UNDERWRITTEN FUNDING, LLC entered into Amended and Restated Trust Agreement with Deutsche Bank Trust Company Delaware (effective 2026-03-24).

Action: entry
Counterparty: Deutsche Bank Trust Company Delaware
Effective: 2026-03-24

Exact text from the filing

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 the Issuing Entity was created.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

VOLKSWAGEN AUTO LEASE/LOAN UNDERWRITTEN FUNDING, LLC entered into SUBI Sale Agreement with VW Credit, Inc., Volkswagen Auto Lease/Loan Underwritten Funding, LLC (effective 2026-03-24).

Action: entry
Counterparty: VW Credit, Inc., Volkswagen Auto Lease/Loan Underwritten Funding, LLC
Effective: 2026-03-24

Exact text from the filing

SUBI Sale Agreement, by and between VCI, as seller, and Volkswagen Auto Lease/Loan Underwritten Funding, LLC (“VALU Funding”), as buyer, pursuant to which VCI transferred to VALU Funding the Transaction SUBI Certificate.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

VOLKSWAGEN AUTO LEASE/LOAN UNDERWRITTEN FUNDING, LLC entered into SUBI Transfer Agreement with Volkswagen Auto Lease/Loan Underwritten Funding, LLC, Volkswagen Auto Lease Trust 2026-A (effective 2026-03-24).

Action: entry
Counterparty: Volkswagen Auto Lease/Loan Underwritten Funding, LLC, Volkswagen Auto Lease Trust 2026-A
Effective: 2026-03-24

Exact text from the filing

SUBI Transfer Agreement, by and between VALU Funding, as seller, and the Issuing Entity, as buyer, pursuant to which VALU Funding transferred to the Issuing Entity the Transaction SUBI Certificate.

View on SEC.gov

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Source: SEC EDGAR

accession 0001104659-26-033778

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