CPS closes fourth ABS transaction of 2021 as spreads widen

The $349.2 million deal utilized a pre-funding structure

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© Can Stock Photo / kentoh

Spreads on AAA-rated bonds in Consumer Portfolio Services’ (CPS) fourth auto asset-backed securities transaction of the year — a $349.2 million deal backed by subprime receivables — have widened compared with its previous transactions this year as the cost of funds in the secondary market begin to increase. Irvine, Calif.-based CPS has securitized about $1.1 […]

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