Talk about busy days. Consumer Portfolio Services has made a habit out of being party to simultaneous closings, be it multiple securitizations, warehouse lines, mergers, or, as was the case last week, a combination of the three.
The auto lender closed its previously announced acquisition of TFC Enterprises in conjunction with a term securitization of TFC collateral, and a restructuring of a TFC bank warehouse line. All three deals were arranged by West LB, which is providing, or rather continuing to provide, the facility for TFC. The warehouse from West LB pre-dates the CPS merger, though it was restructured to continue as a dedicated line to TFC. West LB was lead manager of the term securitization and warehouse line for TFC, while acting as financial advisor for the merger.