Porsche Financial Services (PFS) is marketing a $518.60 million auto loan securitization.

The deal, Porsche Financial Auto Securitization Trust 2011-1’s (PFAST 2011-1) will offer investors four tranches with final maturity dates ranging from June 2012 to December of 2018.

According to a Fitch Ratings presale report on the deal, the class A-1 notes will receive a rating of 'F1+sf' and all additional tranches will be rated 'AAAsf'. The expected rating outlooks are all thought to be stable. The Class A securities will be issued as fixed-rate notes per rule 144a.

The report cited strong quality of retail auto receivables and structure and credit enhancement as the most influential factors in the ratings process.

The securitization will be backed by a pool of automobile loans with strong prime credit quality, which will be secured by new and used Porsche vehicles. This will be entirely originated and underwritten by PFS.

Proceeds from the issuance of auto loan ABS will go towards general corporate funding uses.

This is the first retail auto loan securitization for the issuer and servicer of this transaction, PFS. PFS, along with Porsche Cars North America (PNAC), are both subsidiaries of Porsche AG (PAG).

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