Volkswagen Bank has issued its first green bond on the capital market. The €1.5bn issuance will help fund the groups transition and EV development.

Oliver Roes, MD of Volkswagen Bank, commented: "We are delighted with the enormous interest investors have shown in our first green bond. Sustainability has now also become a fully established part of our refinancing mix in line with our Mobility2030 strategy."

The proceeds from the green bond issuance will be used exclusively to refinance financing products for pure EVs. In doing so, Volkswagen Bank is supporting the sales of electric vehicles from the Volkswagen Group brands.

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