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Porsche Financial Services Completes Second Successful Auto Lease ABS Transaction In The U.S. This Year
Porsche Financial Services, Inc. (PFS), located in Atlanta, Georgia, has launched another auto lease Asset Backed Securities (ABS) offering in the United States. This new issuance amounts to $966 million and follows a similar offering by PFS in August 2024. The securities were issued under Rule 144A and received a 'AAA' rating from rating agencies, reflecting the robustness of PFS's lease portfolio.
The transaction was structured into five tranches, including one with a floating rate, and was backed by a pool of auto lease contracts for Porsche vehicles. Wells Fargo Securities led the transaction, with RBC Capital Markets, Scotiabank, US Bancorp, and BNP Paribas acting as book runners. The deal saw strong subscription levels across all tranches from a diverse investor base that includes investment funds, asset managers of financial institutions, trusts, banks, and corporations.
Tobias Hausladen, Treasurer & Chief Financial Officer of Porsche Financial Services, Inc., expressed satisfaction with the outcome: "We are pleased with our second auto lease issuance in the U.S. ABS Market this year," he stated. "Investor demand continues to remain strong, and the transaction was able to upsize from an initial $750 million to $966 million."
Founded in 1991, PFS is dedicated to providing leasing and financing solutions for Porsche customers and dealers in the United States. In 2012, it expanded its North American operations to become the captive finance provider for Volkswagen Group's exclusive brands like Bentley, Lamborghini, and Bugatti. As an integrated premium financial services provider, each new product reflects the essence of some of the world's most prestigious vehicle manufacturers.
Porsche Cars North America, Inc. (PCNA), established in 1984 and headquartered in Atlanta since 1998, is the exclusive U.S. importer of several Porsche models including the 911 and Taycan. PCNA operates two Porsche Experience Centers in North America—one in Atlanta featuring two driver development tracks and another near Los Angeles with eight educational modules totaling 4.1 miles.
Comprehensive Support for U.S. Dealerships
PCNA supports 201 independently owned Porsche dealerships across the U.S., along with four Porsche studios and six satellite stores. These dealerships receive parts supply, service support, marketing assistance, and training to ensure they deliver a top-notch experience that aligns with Porsche's legacy of excellence in vehicle performance and safety.
Porsche AG owns PCNA indirectly; its headquarters are located in Stuttgart, Germany. The company's success is deeply rooted in its rich racing heritage that boasts over 30,000 motorsport victories to date.
Photos and video footage are available to accredited journalists on the Porsche Press Database and on the Porsche Cars North America Newsroom.
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