消费者投资组合服务完成4.3631亿美元高级下属资产支持证券化

2024-06-27 15:25

Consumer Portfolio Services (NASDAQ:CPSS) announced the closing of its third term securitization in 2024 on Wednesday.
The transaction is Consumer Portfolio Services' (CPSS) 35th 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 $436.31 million of asset-backed notes secured by $460 million in automobile receivables originated by Consumer Portfolio Services (CPSS).
The 2024-C transaction has initial credit enhancement consisting of a cash deposit equal to 1.00% of the original receivable pool balance and over collateralization of 5.15%.
The transaction utilizes a pre-funding structure, in which CPS sold approximately $319.85 million of receivables at inception and plans to sell approximately $140.15 million of additional receivables in July 2024.
The transaction was a private offering of securities.
Source: Press Release

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