Loan & DebtJul 22, 2026, 01:35 PM
Consumer Portfolio Services Closes Record $716.88M Securitization
AI Summary
Consumer Portfolio Services, Inc. announced the closing of its third term securitization in 2026, which is the largest in the company's history. The transaction involved the sale of $716.88 million in asset-backed notes, secured by $734.51 million in automobile receivables. This marks CPS's 60th senior subordinate securitization since 2011 and the 43rd consecutive one to receive a triple "A" rating from at least two rating agencies on the senior class of notes. The notes have a weighted average coupon of approximately 5.90% and include initial credit enhancement.
Key Highlights
- Closed largest securitization in company history, totaling $716.88 million.
- Sold $716.88 million of asset-backed notes secured by $734.51 million in automobile receivables.
- This is the 60th senior subordinate securitization for CPS since 2011.
- It is the 43rd consecutive securitization to receive a triple "A" rating from at least two agencies.
- The weighted average coupon on the notes is approximately 5.90%.
- Initial credit enhancement includes a 1.00% cash deposit and 2.40% overcollateralization.
Price Impact
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