CPS closes $80 million residual-interest securitization with 10.25% asset-backed notes
CPSS•Proceeds used to repay higher-coupon financing notes
Proceeds were used in part to fully repay higher-coupon residual interest financing notes issued in March 2024.
CPS closes $80 million residual-interest securitization
CPS closed an $80 million securitization of residual interests, issuing asset-backed notes with a 10.25% coupon.
The notes are secured by residual interests from securitizations issued from April 2022 to April 2023.
The collateral also includes an 80% interest in a majority-owned affiliate holding residual interests tied to securitizations issued from July 2023 to April 2026.
