CONSUMER PORTFOLIO SERVICES, INC. (CPSS): debt financing — CPS completes $319.9M securitization of subprime auto receivables, class A rated AAA

CONSUMER PORTFOLIO SERVICES, INC.

Issued $319.9M in asset-backed notes secured by $337.2M auto receivables; 5 note classes with coupons from 5.78% to 8.36%.
Weighted average coupon 6.69%; class A notes rated AAA by S&P and DBRS; class E rated NR/BB.
Initial credit enhancement: cash reserve of 1% pool balance plus 5.15% overcollateralization; target OC of 8.40% original balance.
51st senior subordinate securitization since 2011; 34th consecutive with AAA on senior class.
Transaction closed April 23, 2024; notes not registered under Securities Act, sold to QIBs.

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 debt of $319.9 million.

Principal: $319.9 million
Event: incurrence

Exact text from the filing

the Trust issued and sold $319.9 million of asset-backed Notes, in five classes (such Notes collectively, the "Notes")

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316 debt financings filed in the last 30 days. Browse all debt financings →

CONSUMER PORTFOLIO SERVICES, INC. filing history →

Source: SEC EDGAR

accession 0001683168-24-002668

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