Porsche places new ABS bond in US collateral market

Posted on 21. May, 2015 by in Volkswagen Canada


Add to File Folder

• Transaction faces again clever financier demand

Porsche Financial Services, Inc. headquartered in Atlanta, Georgia, has released a new ABS bond in a USA value 700 million US dollars. Porsche Financial Services is an indirect, unconditionally owned auxiliary of Dr. Ing. h.c. F. Porsche AG providing financial services for Porsche, Bentley, Lamborghini and Bugatti vehicles. The private chain perceived tip grades from a rating agencies, and in comparison to other issuers, it achieved a low credit domain and a benchmark credit enhancement. Similar to a holds released final year, this transaction enclosed Bentley and Lamborghini besides Porsche franchise contracts.

“Despite a investors’ expectations of lifting seductiveness rates, we achieved a bond sale during rarely auspicious terms”, Lutz Meschke, Chief Financial Officer of Porsche AG, explained. “Due to a glorious portfolio peculiarity we gifted an boost in a already clever direct in a holds that manifested in a aloft series of investors. No allied chain this year achieved a reduce credit margin. This reflects a high lure of a bond issuances”, Mr. Meschke added.

Porsche Financial Services is a good determined issuer of private holds in a USA and considers these exchange an critical component of a refinancing strategy. The transaction was upheld by Barclays Capital, J.P. Morgan and Société Générale as book runners. The investors who purchased a ABS bond were word companies, grant funds, banks, item managers, state governments and corporations.

Tags: ,

Comments are closed.