Group 1 - Consumer Portfolio Services, Inc. announced the closing of a $65.0 million securitization of residual interests from previously issued securitizations [1] - A qualified institutional buyer purchased $65.0 million of asset-backed notes secured by an 80% interest in a CPS majority owned affiliate that owns the residual interests in five CPS securitizations issued from October 2023 through September 2024 [2] - The MOA interest includes 80% of the amounts on deposit in the underlying spread accounts and 80% of the over-collateralization of each related securitization [3] Group 2 - The transaction was a private offering of securities, not registered under the Securities Act of 1933 or any state securities law [4] - Consumer Portfolio Services, Inc. is an independent specialty finance company that provides indirect automobile financing to individuals with past credit problems or limited credit histories [5]
CPS Announces $65.0 Million Securitization of Residual Interests