Fleet News

LeasePlan secures £1.1 billion of credit

LeasePlan has secured a new three-year €1.5 billion (£1.18 billion) credit facility from Volkswagen AG through its subsidiary Volkswagen International Payment Services, which is available for draw down immediately.

The details of this arm’s length facility have been agreed by LeasePlan in close consultation with its three shareholders, Volkswagen Group (50%), Mubadala Development Company (25%) and Olayan Group (25%).

As soon as markets return to normal, LeasePlan will revert to its usual debt capital and money markets financing.

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