Consumer Portfolio Services has priced its second subprime auto loan securitization this year, according to a press release.
The $202.5-million deal consists of five tranches. An A piece for $141.2-million was split rated AAA’ by DBRS and AA-’ by Standard & Poor’s and priced at 1.11%. Its average life is 1.26 years. Notes in the B tranche totaled $26.8 million with an average life of 3.04 years and A’ ratings from both agencies. That piece priced at 2.32%. An $18.7-million, BBB’-rated C tranche with a 3.7-year average life priced at 3.23%. There were also smaller D and E tranches.