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Porsche Financial Services closes $911 million auto ABS deal
Original: Porsche Financial Services, Inc. Closes Inaugural $911 Million SEC-Registered Prime Auto ABS Transaction
Porsche Financial Services, Inc. has closed its inaugural $911 million SEC-registered prime auto asset-backed securities transaction. The deal securitises the company's US auto loan portfolio and marks its first entry into the public ABS market. Financial observers are noting the unusually fitting deal size and the significance of a major luxury automaker tapping structured finance markets.
Why now: A major luxury automaker entering the public securitisation market with a notably symbolic $911 million deal size is drawing financial press attention.
PorschePorsche Financial Services, Inc.United States
Evidence
- Porsche Financial Services, Inc. Closes Inaugural $911 Million SEC-Registered Prime Auto ABS Transaction · Porsche Newsroom
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