BMW closes $1.35B auto lease ABS; five classes of notes issued

BMW AUTO LEASING LLC

BMW Vehicle Lease Trust 2025-1 issued $1.35B in asset-backed notes on June 10, 2025.
Notes: $205M A-1, $350M A-2a, $161M A-2b, $511M A-3, $123M A-4.
Proceeds to fund lease originations; serviced by BMW Financial Services NA, LLC.
Lease pool cutoff date April 30, 2025; ALG residual values used for vehicles.
Transaction structured with SUBI, back-up security, and control agreement.

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