Consumer Portfolio Services (CPSS) said Monday it closed an asset-backed securitization transaction, under which institutional buyers purchased $418.3 million of notes backed by $433.5 million in automobile receivables originated by the company.

The notes, issued by CPS Auto Receivable Trust 2025-C, comprise five classes. The weighted average coupon rate on the notes is around 5.4%, according to the company..

The transaction has initial credit enhancement comprising a cash deposit equivalent to 1% of the original receivable pool balance and overcollateralization of 3.5%, the company said.

Shares were down 1.4% in recent trading.

Price: 8.98, Change: -0.12, Percent Change: -1.36