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Stuttgart. Porsche Financial Services, Inc. headquartered in Atlanta, Georgia, has issued a new ABS bond in the USA worth approximately 490 million US dollars. Porsche Financial Services is an indirect, wholly owned subsidiary of Dr. Ing. h.c. F. Porsche AG. Just as with the transactions in previous years, the private placement received top grades from the rating agencies, and in comparison to other benchmark issuers, it achieved a very low credit spread. The average coupon rate is well below one percent. For the first time, this kind of transaction includes Bentley and Lamborghini finance contracts in addition to Porsche finance contracts.
Since 2012, Porsche Financial Services has been offering leasing and financing products for the Bentley, Lamborghini and Bugatti brands, which also belong to the Volkswagen Group. “This is the Integrated Automotive Group at work”, Lutz Meschke, Chief Financial Officer of Porsche AG, explained. “The sister brands within the Group benefit from our proven structures. The fifth successful placement since 2011 and the repeated significant oversubscription highlight the excellent reputation of Porsche in the ABS bond market,” Mr. Meschke added. Porsche Financial Services is a well established issuer of private bonds in the USA and considers these transactions an important element of its refinancing strategy. The transaction was supported by Barclays Capital, J.P. Morgan and Société Générale as book runners. The investors who purchased the ABS bond were insurance companies, pension funds, banks, asset managers and corporations.
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|Hans-Gerd Bode||Director Communications|
|Achim Schneider||General Manager Corporate Press|
|Matthias Rauter||Human Resources and CSR|
|Julia Pirlich||Local Press Leipzig|
|Lukas Kunze||Sales and Production Stuttgart|
|Helga Ohlhäuser||Lifestyle Communication and Public Media|
|Eberhard Scholl||Local Press Stuttgart|
|Frank Scholtys||Head of Financial Press and Investor Relations|
|Roman Tancar||Financial Press and Investor Relations|
|Christian Weiss||Porsche Design|
|Thomas Becki||Head of Product and Technical Communications|
|Hermann-Josef Stappen||Technical Communications|
|Elena Marciniak||Model Range: 911, Boxster/Cayman|
|Tim Bravo||Product Communications|
|Holger Eckhardt||Motorsport WEC/LMP1|
|Thomas Hagg||Model Range: Panamera, Cayenne, Macan|
|Oliver Hilger||Motorsport Communication GT|
|Nicole Lay||Test Vehicles|
|Andreas Schönhuber||Test Vehicles|
|Achim Stejskal||Head of Porsche Museum|
|Dieter Landenberger||Historical Archive|
|Astrid Böttinger||Porsche Museum|
© 2014 Dr. Ing. h.c. F. Porsche AG. Legal notice.
* These data were obtained using the Euro 5 measurement method (715/2007/EC and 692/2008/EC) in the NEDC (New European Driving Cycle) with standard equipment. The information does not refer to an individual vehicle and is not part of the offer, but is simply provided so that comparisons can be made between different types of vehicle. Further, up to date information on the individual vehicles can be obtained from your Porsche Centre.
Consumption figures were obtained on the basis of standard equipment. Special equipment may affect consumption and performance.