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
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