Porsche Auto Funding LLC 8-K

What Happened

• Porsche Auto Funding LLC (PAF) filed an 8‑K reporting that, on June 4, 2026, it and Porsche Financial Services, Inc. (PFS) entered an Underwriting Agreement with BofA Securities, Inc. (as representative of the underwriters) for the sale of five classes of notes issued by Porsche Innovative Lease Owner Trust 2026-1.
• The notes (Classes A‑1, A‑2a, A‑2b, A‑3 and A‑4) have an aggregate principal balance of $911,000,000, are registered under Form SF‑3 and are expected to be issued on the anticipated closing date of June 12, 2026. The Underwriting Agreement is attached to the filing.

Key Details

• Underwriting Agreement executed: June 4, 2026; anticipated issuance/closing date: June 12, 2026.
• Notes: Classes A‑1 through A‑4; aggregate principal amount: $911,000,000; issuer: Porsche Innovative Lease Owner Trust 2026‑1.
• Structure: Porsche Leasing Ltd. (the Origination Trust) will create a Transaction SUBI (special unit of beneficial interest) that allocates specified retail vehicle leases and leased vehicles (the “Included Units”); PFLP will transfer the Transaction SUBI to PAF, which will transfer it to the Issuing Entity.
• Closing documents to be entered on the Closing Date include: Transaction SUBI supplements, SUBI Sale and Transfer Agreements, an Amended and Restated Trust Agreement, a Servicing Agreement (PFS as servicer), an Indenture (U.S. Bank Trust Company as Indenture Trustee), administration and account control agreements, and an asset representations review agreement. The CEO provided the required SF‑3 depositor certification (Exhibit 36.1).

Why It Matters

• This filing documents a securitization financing that will convert specified Porsche retail vehicle leases into $911 million of asset‑backed notes. For investors, the transaction is a funding event that moves lease cash flows into a trust and places them behind rated note classes secured by those leases.
• The agreements named (servicing, indenture, account control, etc.) establish how the assets will be managed and how payments will flow to noteholders, and the closing date and registered status (Form SF‑3) indicate the issuer’s timetable and regulatory compliance for offering the notes.