GMF Leasing LLC 8-K

What Happened

• GMF Leasing LLC (the Depositor) and GM Financial (sponsor/servicer) announced the issuance on February 12, 2026 of asset‑backed notes through a newly formed issuing entity, GM Financial Automobile Leasing Trust 2026‑1. The issuance totaled $1,000,640,000 across multiple classes: Class A-1 $139.86M (3.821%), Class A-2 $352.12M (3.77%), Class A-3 $352.12M (3.88%), Class A-4 $61.50M (3.98%), Class B $49.46M (4.12%) and Class C $45.58M (4.23%). A related Asset Backed Certificate was also issued.
• The Publicly Offered Notes were sold to underwriters led by Wells Fargo, Barclays, BNP Paribas and Morgan Stanley under an Underwriting Agreement dated Feb 3, 2026, and are registered under Registration Statement No. 333‑285619. The notes are secured principally by an exchange note backed by a designated pool of auto leases and leased vehicles (the Lease Assets).

Key Details

• Total issuance: $1,000,640,000 in Notes (six classes: A‑1 through A‑4, B and C); stated interest rates 3.77%–4.23% by class.
• Closing date: February 12, 2026; Underwriting Agreement dated Feb 3, 2026; Indenture and related trust documents dated Jan 1, 2026 (Trust originally formed Dec 9, 2025 and amended Jan 1, 2026).
• Transaction mechanics: GM Financial originated an Exchange Note from a titling trust; GM Financial sold the Exchange Note to the Depositor, which transferred it to the Issuing Entity; the Issuing Entity issued the Notes as partial payment and granted security interests to the indenture trustee.
• Servicing and administration: GM Financial will act as servicer and custodian of the Lease Assets; Computershare is indenture trustee and collateral/administrative agent; Wilmington Trust Company is owner trustee.

Why It Matters

• This transaction converts a pool of auto lease receivables into marketable debt securities, providing GM Financial/GMF Leasing liquidity and transferring credit exposure on the designated lease pool to noteholders.
• For investors, the filing specifies the size, coupon rates, collateral type (car/light‑duty truck/utility vehicle leases), key counterparties (underwriters, trustees, servicer) and the legal structure—important facts for assessing credit risk, expected yield, and priority among classes.