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Consumer Portfolio Services closes auto loan securitization

Consumer Portfolio Services Inc. closed a senior subordinate securitization backed by $245 million in automobile receivables.

Institutional buyers purchased $233.7 million in asset-backed notes, consisting of $112.3 million of 3.06% class A notes, $35.5 million of 3.61% class B notes, $31.9 million of 3.83% class C notes, $27.8 million of 4.34% class D notes and $26.2 million of 5.82% class E notes.

The company sold approximately $161.5 million of receivables and plans to sell approximately $83.5 million more in November.