Volkswagen Auto Lease Trust 2026-B has entered into a definitive agreement to issue asset-backed notes. The transaction, dated September 15, 2026, involves the sale of five classes of notes to underwriters led by Mizuho Securities USA LLC.
The notes sold include Class A-1, Class A-2-A, Class A-2-B, Class A-3, and Class A-4. The aggregate principal balance of these notes is $991,830,000. The closing of the transaction is scheduled for September 22, 2026.
The offering is structured through a series of agreements involving Volkswagen Credit, Inc. (VCI), Volkswagen Auto Lease/Loan Underwritten Funding, LLC (VALU Funding), and various trustees. VCI will transfer a special unit of beneficial interest in retail automobile leases and related Volkswagen and Audi vehicles to VALU Funding, which will then transfer this interest to the Issuing Entity. Citibank, N.A. has been named as the Indenture Trustee for the issuance of the notes.
