Porsche Auto Funding LLC 8-K

What Happened

• Porsche Auto Funding LLC (PAF) filed an 8-K (Item 1.01) reporting the closing and issuance on June 12, 2026 of Class A-1, A-2a, A-2b, A-3 and A-4 asset-backed notes totaling $911,000,000 by Porsche Innovative Lease Owner Trust 2026-1. The securities were registered under the Securities Act using a Form SF-3 registration statement (File Nos. 333-290988 and 333-290988-01). Several related agreements were entered into at closing to effect the securitization and administration of the transaction.

Key Details

• Aggregate initial principal amount of the Notes: $911,000,000; issued on June 12, 2026.
• Issuing Entity: Porsche Innovative Lease Owner Trust 2026-1; Notes classes: Class A-1, A-2a, A-2b, A-3, A-4.
• Major parties and agreements: Indenture with U.S. Bank Trust Company, N.A. (Indenture Trustee); servicing and administration arrangements with Porsche Financial Services (PFS); transfers involving Porsche Funding Limited Partnership (PFLP) and Porsche Auto Funding LLC (PAF).
• Transaction documents executed at closing include trust and servicing supplements, SUBI sale/transfer agreements, an amended and restated trust agreement, administration and securities account control agreements, and an asset representations review agreement.

Why It Matters

• This filing documents a completed securitization that raises $911M of funding linked to Porsche lease receivables. For investors, the issuance affects the company’s financing and liquidity position by converting lease assets into funded notes backed by those assets under the trust structure. The named trustees, servicer and formal agreements define how the assets will be administered and who holds legal and administrative responsibilities for the notes.