CPS Announces $418.33 Million Senior Subordinate Asset-Backed Securitization
Consumer Portfolio Services (Nasdaq: CPSS) has successfully closed its third term securitization of 2025, marking its 56th senior subordinate securitization since 2011. The transaction involved $418.33 million of asset-backed notes secured by $433.50 million in automobile receivables.
The securitization, issued through CPS Auto Receivables Trust 2025-C, consists of five note classes with ratings from Standard & Poor's and DBRS Morningstar. The weighted average coupon is 5.43%, with initial credit enhancement including a 1.00% cash deposit and 3.50% overcollateralization of the original receivable pool balance.
Consumer Portfolio Services (Nasdaq: CPSS) ha completato con successo la sua terza cartolarizzazione a termine del 2025, segnando la sua 56陋 cartolarizzazione senior subordinate dal 2011. L'operazione ha coinvolto 418,33 milioni di dollari di note garantite da 433,50 milioni di dollari in crediti automobilistici.
La cartolarizzazione, emessa tramite CPS Auto Receivables Trust 2025-C, 猫 composta da cinque classi di note con rating di Standard & Poor's e DBRS Morningstar. Il coupon medio ponderato 猫 del 5,43%, con un potenziamento del credito iniziale che include un deposito in contanti dell'1,00% e una sovracollateralizzazione del 3,50% rispetto al saldo originale del portafoglio crediti.
Consumer Portfolio Services (Nasdaq: CPSS) ha cerrado con 茅xito su tercera titulizaci贸n a plazo de 2025, marcando su 56陋 titulizaci贸n senior subordinada desde 2011. La transacci贸n involucr贸 418,33 millones de d贸lares en notas respaldadas por activos garantizadas por 433,50 millones de d贸lares en cuentas por cobrar de autom贸viles.
La titulizaci贸n, emitida a trav茅s de CPS Auto Receivables Trust 2025-C, consta de cinco clases de notas con calificaciones de Standard & Poor's y DBRS Morningstar. El cup贸n promedio ponderado es del 5,43%, con un refuerzo crediticio inicial que incluye un dep贸sito en efectivo del 1,00% y una sobrecolateralizaci贸n del 3,50% del saldo original de la cartera de cuentas por cobrar.
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Consumer Portfolio Services (Nasdaq : CPSS) a cl么tur茅 avec succ猫s sa troisi猫me titrisation 脿 terme de 2025, marquant sa 56e titrisation senior subordonn茅e depuis 2011. La transaction a impliqu茅 418,33 millions de dollars de billets adoss茅s 脿 des actifs garantis par 433,50 millions de dollars de cr茅ances automobiles.
La titrisation, 茅mise via CPS Auto Receivables Trust 2025-C, se compose de cinq classes de billets not茅es par Standard & Poor's et DBRS Morningstar. Le coupon moyen pond茅r茅 est de 5,43%, avec un renforcement initial du cr茅dit comprenant un d茅p么t en esp猫ces de 1,00% et une surcollat茅ralisation de 3,50% du solde initial du portefeuille de cr茅ances.
Consumer Portfolio Services (Nasdaq: CPSS) hat seine dritte Term-Securitisierung f眉r 2025 erfolgreich abgeschlossen und damit seine 56. Senior-Subordinated-Securitisierung seit 2011 markiert. Die Transaktion umfasste 418,33 Millionen US-Dollar an asset-backed Notes, die durch 433,50 Millionen US-Dollar an Autokrediten besichert sind.
Die 眉ber CPS Auto Receivables Trust 2025-C ausgegebene Verbriefung besteht aus f眉nf Klassen von Notes mit Ratings von Standard & Poor's und DBRS Morningstar. Der gewichtete durchschnittliche Kupon betr盲gt 5,43%, mit einer anf盲nglichen Kreditverbesserung, die eine 1,00%ige Barreserve und eine 3,50%ige 脺berbesicherung des urspr眉nglichen Forderungspools umfasst.
- 39th consecutive securitization to receive triple 'A' rating from at least two rating agencies on senior class notes
- Strong credit enhancement structure with 1.00% cash deposit and 3.50% overcollateralization
- Successful placement of $418.33M in asset-backed notes, demonstrating continued market access
- Higher interest rates across note classes, with weighted average coupon of 5.43%
Insights
CPS completed a $418.33M securitization with favorable AAA ratings, demonstrating continued market access and investor confidence.
Consumer Portfolio Services (CPS) has successfully closed its third asset-backed securitization of 2025, raising
The transaction's weighted average interest rate of
From a credit enhancement perspective, the deal includes a
For investors, this securitization demonstrates CPS's continued access to capital markets and ability to convert illiquid auto loan receivables into immediate cash flow. The company's ability to achieve its 39th consecutive AAA-rated senior tranche suggests strong performance history and structural consistency, key indicators of operational stability in the specialty finance sector.
LAS VEGAS, Nevada, July 28, 2025 (GLOBE NEWSWIRE) -- Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (鈥淐PS鈥� or the 鈥淐ompany鈥�) announced the closing of its third term securitization in 2025 on Monday July 28, 2025. The transaction is CPS's 56th senior subordinate securitization since the beginning of 2011 and the 39th consecutive securitization to receive a triple 鈥淎鈥� rating from at least two rating agencies on the senior class of notes.
In the transaction, qualified institutional buyers purchased
| Note Class | Amount (in millions) | Interest Rate | Average Life (years) | Price | 厂&补尘辫;笔鈥檚 Rating | DBRS Rating | |
| A | 0.63 | AAA | AAA | ||||
| B | 1.66 | AA | AA | ||||
| C | 2.35 | A | A | ||||
| D | 3.21 | BBB | BBB | ||||
| E | 4.02 | NR | BB | ||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | |
The weighted average coupon on the notes is approximately
The 2025-C transaction has initial credit enhancement consisting of a cash deposit equal to
The transaction was a private offering of securities, not registered under the Securities Act of 1933, or any state securities law. All such securities having been sold, this announcement of their sale appears as a matter of record only.
About Consumer Portfolio Services, Inc.
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. We purchase retail installment sales contracts primarily from franchised automobile dealerships secured by late model used vehicles and, to a lesser extent, new vehicles. We fund these contract purchases on a long-term basis primarily through the securitization markets and service the contracts over their lives.
Investor Relations Contact
Danny Bharwani, Chief Financial Officer
949-753-6811
FAQ
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What is the weighted average coupon rate for CPSS's 2025-C securitization?
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