Harley-Davidson Partners With KKR, PIMCO To | Global Market News
(RTTNews) – Harley-Davidson (HOG) introduced that HDFS has entered into a long-term strategic partnership with KKR, and PIMCO. This partnership transforms HDFS into a capital-light financing business via the sale of present and future retail loans. HDFS can even promote 4.9% common equity pursuits to investment autos managed by KKR and PIMCO. HDFS has agreed to promote over $5 billion of present gross client retail loan receivables and residual pursuits in securitized client loan receivables at a premium.
Harley-Davidson will retain control of HDFS. The company expects HDFS working income to grow back towards pre-transaction ranges over time.
Harley-Davidson plans to make use of the roughly $1.25 billion of money unlocked via the transaction to reinvest to assist demand-driven investments, scale back $450 million of HDI debt and return roughly $500 million to shareholders.
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