Stuttgart. Dr. Ing. h. c. F. Porsche AG, Stuttgart, has successfully launched a private placement in the USA. This financial instrument, which is comparable with a non-quoted bond, is a means of securing the sports car manufacturer's already excellent financial base well into the future. With a volume of 625 million US dollars, the placement is largest capital raising operation of this kind ever undertaken by a German company in the United States.
Porsche's Chief Financial Officer Holger P. Härter explains: "Demand was so overwhelmingly high that the placement was oversubscribed many times. Thanks to the current low interest rate, we have succeeded in obtaining a long-term liquidity guarantee on the most favorable terms, and maintaining the company's growth on a sound basis."
The placement was carried out in 4 portions, to run for periods between seven and 15 years. The bond was acquired by some 20 institutional investors – in particular insurance companies – in the USA. ABN Amro and Merrill Lynch, companies noted for their excellent experience of the US private placement market, were the banking partners. Sports car manufacturer Porsche is already present on the capital market with two bonds that it has guaranteed and which are also intended to assure the company's future financial position.
* 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.