CONSUMER PORTFOLIO SERVICES, INC. (CPSS): debt financing — CPS closes $324.8M asset-backed securitization of subprime auto receivables

CONSUMER PORTFOLIO SERVICES, INC.

Issued $324.8M of asset-backed notes secured by $362.9M in subprime auto receivables.
Five note classes: Class A ($154.6M, 5.54%), B ($44.1M, 5.47%), C ($57.2M, 5.54%), D ($39.6M, 6.44%), E ($29.4M, 10.59%).
Initial credit enhancement: 1.00% cash reserve and 10.50% overcollateralization; step-up to 14% or 38% required.
46th senior subordinate securitization since 2011; Class A rated AAA by S&P and DBRS.
CPS will service the receivables; transaction closed January 25, 2023.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

CONSUMER PORTFOLIO SERVICES, INC. incurred senior notes of $324.8 million.

Instrument: senior notes
Principal: $324.8 million
Event: incurrence

Exact text from the filing

the Trust issued and sold $324.8 million of asset-backed Notes, in five classes (such Notes collectively, the "Notes")

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.8

CONSUMER PORTFOLIO SERVICES, INC. entered into a asset purchase with CPS Auto Receivables Trust 2023-A valued at $362.9 million (effective 2023-01-25).

Action: entry
Agreement: asset purchase
Counterparty: CPS Auto Receivables Trust 2023-A
Value: $362.9 million
Effective: 2023-01-25

Exact text from the filing

On January 25, 2023, 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 2023-A (the "Trust"), approximately $362.9 million of subprime automotive receivables (the " Receivables").

View on SEC.gov

Browse all debt financings →

CONSUMER PORTFOLIO SERVICES, INC. filing history →

Source: SEC EDGAR

accession 0001683168-23-000452

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.