Stuttgart. Porsche Automobil Holding SE, Stuttgart, sets the tone in a difficult capital markets environment. Via it's fully-owned subsidiary Porsche Holding Finance plc in Dublin Porsche has successfully placed a volume of Euro 1bn hybrid capital via a private placement with a club of large institutional investors in Europe, Asia and the Middle East. "The ability to place a volume of EUR1bn speaks for investor confidence in Porsche", Holger P. Härter, CFO and deputy CEO said. Despite the market deterioration caused by the subprime crisis, investors are still willing to put cash to work for the right investment case.
The bond has no fixed maturity and therefore is regarded as a hybrid, which will be recorded in equity. Porsche managed to secure attractive financing conditions with this move. Proceeds of the placement are used for the refinancing of the VW-investment and to bolster Porsche's liquidity reserve.
© 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.