secwatch.observer — SEC 8-K summary
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Issuer:     CONSUMER PORTFOLIO SERVICES, INC. (CPSS)
CIK:        0000889609
Form:       8-K
Filed at:   2024-04-04T23:59:59+00:00
Accession:  0001683168-24-002117
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CPS renews $200M revolving credit facility with Ares Agent Services through 2026
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- Credit agreement renewed March 29, 2024; maximum $200 million outstanding at any time.
- Loans secured by auto receivables; advance rate up to 88% of eligible pledged receivables.
- Borrowing available through March 31, 2026; amortization option extends to March 31, 2028.
- Floating interest rate based on SOFR plus margin; $2 million closing fee paid by CPS.
- Facility originally from November 2015; no change in agent (Ares Agent Services, L.P.).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/889609/000168316824002117/0001683168-24-002117-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/889609/000168316824002117/cps_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-24-002117

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer