Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
CONSUMER PORTFOLIO SERVICES, INC. incurred senior notes of $307 million with Noteholders at 6.09%, 6.84%, 7.69%, 8.73%, 12.12% maturing Monthly, with potential acceleration and optional purchase at 10% of initial pool.
- Instrument
- senior notes
- Principal
- $307 million
- Counterparty
- Noteholders
- Rate
- 6.09%, 6.84%, 7.69%, 8.73%, 12.12%
- Maturity
- Monthly, with potential acceleration and optional purchase at 10% of initial pool
- Event
- incurrence
Exact text from the filing
Under these agreements (i) CPS sold the Receivables to Subsidiary (ii) Subsidiary sold the Receivables to the Trust (iii) the Trust deposited the Receivables with Computershare Trust Company, N.A. ("CTCNA"), as trustee of a grantor trust, receiving in return a certificate of beneficial interest (“CBI”) representing beneficial ownership of the Receivables, (iv) the Trust pledged the CBI to CTCNA as indenture trustee for benefit of the holders of the Notes (as defined below), (v) the Trust issued and sold $307 million of asset-backed Notes, in five classes (such Notes collectively, the "Notes"), and (vi) a cash deposit (the "Reserve Account") in the amount of 1.20% of the aggregate balance of the Receivables was pledged for the benefit of the holders of the Notes.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
CONSUMER PORTFOLIO SERVICES, INC. entered into a asset purchase with CPS Auto Receivables Trust 2022-D valued at approximately $337.4 million (effective 2022-10-26).
- Action
- entry
- Agreement
- asset purchase
- Counterparty
- CPS Auto Receivables Trust 2022-D
- Value
- approximately $337.4 million
- Effective
- 2022-10-26
Exact text from the filing
On October 26, 2022, the registrant Consumer Portfolio Services, Inc. ("CPS") and its wholly owned subsidiary CPS Receivables Five LLC ("Subsidiary") entered into a series of agreements under which Subsidiary purchased from CPS, and sold to CPS Auto Receivables Trust 2022-D (the "Trust"), approximately $337.4 million of subprime automotive receivables (the " Receivables").
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