BMW Vehicle Lease Trust 2025-1 issues $1.35B in asset-backed notes

BMW AUTO LEASING LLC

Issuance of five classes of notes: A-1 ($205M), A-2a ($350M), A-2b ($161M), A-3 ($511M), A-4 ($123M).
Underwriting agreement dated June 3, 2025; notes expected to close June 10, 2025.
Trust created via vehicle trust supplement; leases/vehicles allocated to 2025-1 SUBI.
Servicing by BMW FS; asset representations review by Clayton Fixed Income Services.

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