CPSS - Consumer Portfolio Services sells $395.6M asset-backed notes

Consumer Portfolio Services (NASDAQ:CPSS) sold $395.6M asset-backed notes secured by $430.0M in automobile receivables originated by the specialty finance company to qualified institutional buyers. The notes, carrying a weighted average coupon of ~4.83%, were issued by CPS Auto Receivables Trust 2022-B. The notes consist of 5 classes - $213.920M class A notes, $41.930M class B notes, $60.200M class C notes, $25.800M class D notes and $53.750M class E notes. The transaction marks the closing of the company's second term securitization in the year.

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Consumer Portfolio Services sells $395.6M asset-backed notes