California Republic Bank said today it completed a $238 million securitization of prime auto loans.

The deal, which is rated by Moody’s Investors Service and DBRS, includes four classes of notes. A $34.7 million, P1/R-1 rated money market tranche had a coupon of 0.40%; a $178.3 million Aa3/AA class has a coupon of 1.41%; an $11.9 million, A2/A rated tranche has a coupon of 2.24% and $13.1 million, Baa3/BBB rated tranche has a coupon of 3.25%. All four tranches were sold to qualified investors via the Rule 144A market.

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