Porsche Financial Services completes successful ABS offering, raising $891 million in record pricing.

From GlobeNewswire: 2024-12-13 13:26:00

Porsche Financial Services, Inc. (PFS) has completed its third U.S. auto Asset Backed Securities (ABS) offering of 2024, raising $891 million. This is the third issuance by PFS this year, following two previous offerings in August and October. The securities, rated AAA, were divided into five tranches and backed by retail sales contracts financing Porsche vehicles, including a percentage of battery-electric vehicles. The transaction achieved record pricing in the U.S. ABS market and was led by Société Générale, with strong subscription levels from various investors. PFS is the dedicated provider of leasing and financing products for Porsche in the U.S., as well as other exclusive brands of the Volkswagen Group.



Read more at GlobeNewswire: Porsche Financial Services, Inc. Celebrates Successful Auto