---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-074301"
form_type: "8-K"
ticker: "HOG"
cik: "0000793952"
company_name: "HARLEY-DAVIDSON, INC."
filed_at: "2025-08-05T23:59:59+00:00"
generated_at: "2026-05-17T21:11:17.307519+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Harley-Davidson sells $4B motorcycle loan portfolio to KKR and PIMCO; issues 9.8% of HDFS equity.

## Summary
- Sale of back book assets expected to generate ~$4B net cash proceeds for HDCC; closing targeted by October 2025.
- Forward flow agreements commit KKR and PIMCO to buy up to $1B annually of new motorcycle contracts for at least 5 years.
- KKR and PIMCO (via Cavendish) each invest $23.3M for 4.9% of HDFS common stock, totaling 9.8% for $46.6M.
- HDFS will pay a dividend to parent post-closing, subject to liquidity and book value covenants.
- Minority investors get board observer rights, transfer restrictions, and exit options including exchange for HOG stock at 1.75x book value.

## SEC filing metadata
- accession: 0001104659-25-074301
- form_type: 8-K
- ticker: HOG
- cik: 0000793952
- company_name: HARLEY-DAVIDSON, INC.
- filed_at: 2025-08-05T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/793952/000110465925074301/0001104659-25-074301-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/793952/000110465925074301/tm2522653d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-074301
- JSON: https://secwatch.observer/filing/0001104659-25-074301.json
- Plain text: https://secwatch.observer/filing/0001104659-25-074301.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.