CPS Announces Latest Securitization Featured

By Staff Writer July 20, 2018

Consumer Portfolio Services Inc. announced the closing of its third term securitization in 2018. 

The transaction is CPS's 29th senior subordinate securitization since the beginning of 2011 and the twelfth consecutive securitization to receive a triple “A” rating on the senior class of notes from at least two rating agencies.

In the transaction, qualified institutional buyers purchased $230.3 million of asset-backed notes secured by $239.9 million in automobile receivables originated by CPS. 

The sold notes, issued by CPS Auto Receivables Trust 2018-C, consist of five classes.  Ratings of the notes were provided by Standard & Poor’s and DBRS, and were based on the structure of the transaction, the historical performance of similar receivables and CPS’s experience as a servicer.

The weighted average coupon on the notes is approximately 4.18 percent.

Last modified on Friday, 20 July 2018 12:37

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