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.
* The latest Porsche models are designed to operate on fuels with an ethanol content of up to 10%. Data determined for standard specification and in the NEDC (New European Driving Cycle) in accordance with the Euro 5 (715/2007/EC and 692/2008/EC) measurement method. The figures do not refer to an individual vehicle nor do they constitute part of the offer. They are intended solely as a means of comparing different types of vehicle. You can obtain further information about individual vehicles from your Porsche Centre.
Consumption figures were obtained on the basis of standard equipment. Special equipment may affect consumption and performance.