Core Insights - Porsche Financial Services, Inc. (PFS) has issued an auto Asset Backed Securities (ABS) offering in the USA with a principal amount of $870.4 million, marking its second bond issuance in 2025 [1][2] - The ABS transaction received a 'AAA' rating and was well-received by investors, indicating strong demand and confidence in PFS's auto portfolio and Porsche's brand [2][4] Company Overview - Porsche Financial Services, Inc. is based in Atlanta, Georgia, and serves as the dedicated provider of leasing and financing products for Porsche in the United States, having been founded in 1991 [4] - In 2012, PFS expanded its operations to include financing for other exclusive brands under the Volkswagen Group, such as Bentley, Lamborghini, and Bugatti [4] Transaction Details - The ABS transaction was structured into five tranches, including a floating rate tranche, and was backed by a pool of auto contracts financing Porsche vehicles [2] - The transaction was led by RBC Capital Markets, with support from BofA Securities, Scotiabank, Société Générale, and Truist Securities as book runners, achieving strong subscription levels across all tranches [3]