Atlanta. Porsche Financial Services, Inc. (PFS), headquartered in Atlanta, Georgia has issued an additional auto lease Asset Backed Securities (ABS) offering in the USA with a principal amount of $966 million dollars. This follows a recent auto lease ABS issuance by PFS in August 2024.
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 received 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 Wells Fargo Securities and supported by RBC Capital Markets, Scotiabank, US…