Tesla returns to ABS with $780m auto lease deal

Electric car maker Tesla is preparing its fourth retail auto lease securitization, issuing into a strong ABS market supported by high investor demand and solid auto market fundamentals in spite of the virus, sources said.
The $779m transaction is backed by the discounted value of remaining monthly lease payments and base residual values of a pool of lease contracts, according to Moody’s.
Moody’s assigned a P-1 rating to the class ‘A-1’ notes and an Aaa rating to the ‘A-2’, ‘A-3’ and ‘A-4’ ...Already a subscriber? Login