California Republic Bancorp completed a $223 million prime securitization transaction yesterday with notes backed by the bank’s automobile loans. The notes were sold in an underwritten public offering registered with the Securities and Exchange Commission.
It’s the bank’s fourth auto securitization and its second public deal, according to a release Thursday.
Credit Suisse acted as the underwriter and sole bookrunner and as the sole placement agent for the certificates. Mitchell Silberberg & Knupp LLP acted as issuer’s counsel.
California Republic Bancorp is the holding company for California Republic Bank and CRB Auto, Inc.
