Atlanta. Porsche Financial Services, Inc. (PFS), headquartered in Atlanta, Georgia has issued an auto lease Asset Backed Securities (ABS) offering in the USA with a principal amount of $810 million dollars. This is the fourth bond issuance for Porsche Financial Services, Inc., in the past 12 months.
Porsche Financial Services, Inc. is an indirect, wholly owned subsidiary of German luxury car maker Dr. Ing. h.c. F. Porsche AG (“Porsche AG”).
The securities issued in the Rule 144A transaction maintained a ‘AAA’ rating from the rating agencies, and achieved competitive pricing, highlighting the strength of PFS’s lease portfolio. The transaction, divided into five tranches, including a floating rate tranche, was backed by a pool of auto lease contracts financing Porsche vehicles.
The transaction was led by Barclays Capital Inc. and supported by CIBC World Markets Corp., Mizuho, US Bancorp, and Wells Fargo Securities as book runners. The deal attracted healthy subscription levels in each tranche from a growing investor base, comprised of investments funds, asset managers of financial institutions, trusts, banks and corporates.
“PILOT 2025-1 is the first lease transaction to include battery-electric vehicles (BEVs), enabling PFS to securitize the entire range of model lines within the Porsche portfolio.,” says Tobias Hausladen, Treasurer & Chief Financial Officer, Porsche Financial Services, Inc., “We saw significant interest confirming the investor confidence in our portfolio and product quality. I am very pleased with the result, considering the volatile market conditions.”
