BMW Vehicle Lease Trust 2026-2 filed a Current Report on Form 8-K on October 7, 2026, announcing the execution of an Underwriting Agreement. The filing details the terms for the sale of a series of asset-backed notes by the Trust, a Delaware statutory entity.
According to the filing, BMW Auto Leasing LLC and BMW Financial Services NA, LLC entered into the agreement with BofA Securities, Inc. acting on behalf of the underwriters. The offering consists of five classes of Notes with a total original principal amount of $1,249,000,000. The specific classes and amounts are as follows:
- Class A-1: $223,000,000
- Class A-2a: $305,600,000
- Class A-2b: $175,000,000
- Class A-3: $480,600,000
- Class A-4: $65,800,000
The Notes are scheduled to be issued on or about October 14, 2026, which is identified as the Closing Date. The filing outlines several agreements to be executed on that date, including a new Indenture between the Trust and U.S. Bank Trust Company, National Association as Indenture Trustee. Additionally, the Trust will enter into a 2026-2 Vehicle Trust Supplement with BMW Manufacturing L.P. as the Grantor and BNY Mellon Trust of Delaware as Vehicle Trustee.
The filing also references the transfer of a SUBI Certificate, which relates to the leases and vehicles allocated to the Notes, and details administrative and security agreements involving BMW Financial Services NA, LLC as Servicer and Administrator.
