Porsche Financial Services Issues $996M Asset Backed Securities (ABS) In The U.S.

0
26
logo


Porsche Financial Services secures a ‘AAA’ rated $996 million ABS issuance, marking its second successful transaction this year.

Porsche Financial Services, based in Atlanta, Georgia, has strategically strengthened its financial portfolio by issuing Asset Backed Securities (ABS) in the United States, amassing a massive principal amount of $996 million. This move marks the company’s second triumphant ABS issuance of the year, reinforcing its robust financial position following a previous transaction in May. Operating as an indirect, wholly owned subsidiary of the renowned German luxury car manufacturer, Dr. Ing. h.c. F. Porsche AG, PFS has demonstrated its capacity to attract substantial investor confidence. The securities, offered in a Rule 144A transaction, not only garnered a prestigious ‘AAA’ rating from leading rating agencies, but also achieved competitive pricing. This highlights the high investor interest and reflects the high demand for financial instruments tied to elite automotive brands.

This strategic financial maneuver was bolstered by the expertise of top-tier book runners including BofA Securities, Barclays, CIBC Capital Markets, Mizuho, and Wells Fargo Securities. The deal captivated a wide array of fifty-three unique investors, expanding its reach to include twenty-five new investors, a testament to its appeal across investment funds, asset managers, trusts, banks, and corporate entities. Since its inception in 1991, PFS has not only facilitated bespoke leasing and financing options for U.S. Porsche customers but, as of 2012, also extended its services to cater to the exclusive VW Group brands such as Bentley, Lamborghini, and Bugatti. Each financial service offered by PFS carries the hallmark of some of the most coveted vehicle manufacturers, reflecting a heritage of luxury and performance. View all Porsche cars and SUVs currently for sale on duPont REGISTRY by clicking the link below.

Source: Porsche



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here