CPS Closes Securitization

By Staff Writer January 29, 2019 406

 

Consumer Portfolio Services Inc. announced the closing of its first term securitization in 2019.

The transaction is CPS's 31st senior subordinate securitization since the beginning of 2011 and the 14th consecutive securitization to receive a triple “A” rating from at least two rating agencies on the senior class of notes.
In the transaction, qualified institutional buyers purchased $254.4 million of asset-backed notes secured by $265 million in automobile receivables originated by CPS.
The weighted average coupon on the notes is approximately 4.22 percent.

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Last modified on Tuesday, 29 January 2019 15:51