CPSS

CPS Announces $319.9 Million Senior Subordinate Asset-Backed Securitization

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星期二, 四月 23, 2024
CPSS, CPS

LAS VEGAS, Nevada, April 23, 2024 (GLOBE NEWSWIRE) -- Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (“CPS” or the “Company”) announced the closing of its second term securitization in 2024 on Tuesday April 23, 2024.

Key Points: 
  • LAS VEGAS, Nevada, April 23, 2024 (GLOBE NEWSWIRE) -- Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (“CPS” or the “Company”) announced the closing of its second term securitization in 2024 on Tuesday April 23, 2024.
  • The transaction is CPS's 51st senior subordinate securitization since the beginning of 2011 and the 34th consecutive securitization to receive a triple “A” rating from at least two rating agencies on the senior class of notes.
  • In the transaction, qualified institutional buyers purchased $319.9 million of asset-backed notes secured by $337.2 million in automobile receivables originated by CPS.
  • The sold notes, issued by CPS Auto Receivables Trust 2024-B, consist of five classes.

Consumer Portfolio Services Appoints Gateway to Lead Expanded Investor Relations Program

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星期三, 四月 3, 2024
Development, Machine learning, CPSS, Gateway, Gateway Conference, Conference, History, CPS, Gateway Group, AI

Gateway will work closely with CPS management to develop and deploy a comprehensive outreach and communications program.

Key Points: 
  • Gateway will work closely with CPS management to develop and deploy a comprehensive outreach and communications program.
  • Gateway will also assist in organizing roadshows and securing invitations to select financial conferences, including its annual Gateway Conference .
  • This performance has expanded our total managed portfolio to $3.2 billion, marking the largest amount in our history.
  • We look forward to working closely with the Gateway team to execute a comprehensive investor relations program that will allow us to improve our corporate profile, enhance our market position, and expand our shareholder base.”

CPS Announces Renewal of $200 Million Credit Facility

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星期一, 四月 1, 2024
CPSS, CPS

LAS VEGAS, Nevada, April 01, 2024 (GLOBE NEWSWIRE) -- Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (“CPS” or the “Company”) today announced that on March 29, 2024, it renewed its two-year revolving credit agreement with Ares Agent Services, L.P.

Key Points: 
  • LAS VEGAS, Nevada, April 01, 2024 (GLOBE NEWSWIRE) -- Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (“CPS” or the “Company”) today announced that on March 29, 2024, it renewed its two-year revolving credit agreement with Ares Agent Services, L.P.
    Loans under the renewed credit agreement will be secured by automobile receivables that CPS now holds, will originate directly, or will purchase from dealers in the future.
  • CPS may borrow on a revolving basis through March 31, 2026, after which CPS will have the option to repay the outstanding loans in full or to allow them to amortize through March 31, 2028.

CPS Announces $50.0 Million Securitization of Residual Interests

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星期五, 三月 22, 2024
CPSS, CPS, Sale, Security (finance)

LAS VEGAS, Nevada, March 22, 2024 (GLOBE NEWSWIRE) --  Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (“CPS” or the “Company”) today announced the closing of a $50.0 million securitization of residual interests from previously issued securitizations.

Key Points: 
  • LAS VEGAS, Nevada, March 22, 2024 (GLOBE NEWSWIRE) --  Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (“CPS” or the “Company”) today announced the closing of a $50.0 million securitization of residual interests from previously issued securitizations.
  • In the transaction, a qualified institutional buyer purchased $50.0 million of asset-backed notes secured by an 80% interest in a CPS affiliate that owns the residual interests in five CPS securitizations issued from January 2022 through January 2023.
  • The transaction was a private offering of securities, not registered under the Securities Act of 1933, or any state securities law.
  • All of such securities having been sold, this announcement of their sale appears as a matter of record only.

CPS Announces Fourth Quarter and Full Year 2023 Earnings

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星期五, 三月 15, 2024
LAS, CPSS, CPS, Video game

Revenues for the fourth quarter of 2023 were $92.0 million, an increase of $9 million, or 10.8%, compared to $83.0 million for the fourth quarter of 2022.

Key Points: 
  • Revenues for the fourth quarter of 2023 were $92.0 million, an increase of $9 million, or 10.8%, compared to $83.0 million for the fourth quarter of 2022.
  • Pretax income for the fourth quarter of 2023 was $9.8 million compared to pretax income of $18.3 million in the fourth quarter of 2022.
  • During the fourth quarter of 2023, CPS purchased $301.8 million of new contracts compared to $322.4 million during the third quarter of 2023 and $428.1 million during the fourth quarter of 2022.
  • Annualized net charge-offs for the fourth quarter of 2023 were 7.74% of the average portfolio as compared to 5.83% for the fourth quarter of 2022.

CPS to Host Conference Call on Fourth Quarter 2023 Earnings

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星期四, 三月 14, 2024
CPSS

ET to discuss its fourth quarter 2023 operating results.

Key Points: 
  • ET to discuss its fourth quarter 2023 operating results.
  • Those wishing to participate can pre-register for the conference call at the following link https://register.vevent.com/register/BI280eff9814e7495fb11dd11c31078155 .
  • Registered participants will receive an email containing conference call details for dial-in options.
  • To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the schedule start time.

The Eurosystem policy response to developments in retail payments

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星期三, 二月 7, 2024
Crypto, Multilateralism, Civil service commission, Section 2, International, Fraud, Ecosystem, Privacy, SIPS, Aggression, Architecture, Bank, ECB, OJ, Digital divide, Finance, Section 3, Internet, SPACE, Knowledge, Principle, Bank for International Settlements, Safety, FSB, PFMI, Council, Blog, TARGET, Artificial intelligence, CPSS, Central bank, Committee, ECRB, CPMI, IOSCO, Payment, International Organization (journal), Acceleration, Single Euro Payments Area, European Commission, Speech, Coronavirus, European Central Bank, Risk, Financial market, Face, Motivation, Euro, ICT, Policy, IBAN, Payments Council, European, Digital, Section 4, Fintech, European Payments Initiative, Digitalization, Perception, News, Instant, Sale, European Parliament, Conference, Online shopping

Retail payments are undergoing profound changes that are reshaping the European payments landscape.

Key Points: 
  • Retail payments are undergoing profound changes that are reshaping the European payments landscape.
  • The retail payments ecosystem and consumers’ attitudes and preferences are evolving and influencing one another.

CPS Announces $280.9 Million Senior Subordinate Asset-Backed Securitization

Retrieved on: 
星期三, 一月 24, 2024
CPS, CPSS

LAS VEGAS, Nevada, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (“CPS” or the “Company”) announced the closing of its first term securitization in 2024 on Wednesday, January 24, 2024.

Key Points: 
  • LAS VEGAS, Nevada, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (“CPS” or the “Company”) announced the closing of its first term securitization in 2024 on Wednesday, January 24, 2024.
  • The transaction is CPS's 50th senior subordinate securitization since the beginning of 2011 and the 33rd consecutive securitization to receive a triple “A” rating from at least two rating agencies on the senior class of notes.
  • In the transaction, qualified institutional buyers purchased $280.9 million of asset-backed notes secured by $300.6 million in automobile receivables originated by CPS.
  • The sold notes, issued by CPS Auto Receivables Trust 2024-A, consist of five classes.

CPS Announces Third Quarter 2023 Earnings

Retrieved on: 
星期四, 十一月 9, 2023
Growth, CPS, LAS, CPSS

Revenues for the third quarter of 2023 were $92.1 million, an increase of $1.8 million, or 2.0%, compared to $90.3 million for the third quarter of 2022.

Key Points: 
  • Revenues for the third quarter of 2023 were $92.1 million, an increase of $1.8 million, or 2.0%, compared to $90.3 million for the third quarter of 2022.
  • Total operating expenses for the third quarter of 2023 were $77.9 million compared to $56.0 million for the 2022 period.
  • Pretax income for the third quarter of 2023 was $14.2 million, compared to pretax income of $34.3 million in the third quarter of 2022.
  • During the third quarter of 2023, CPS purchased $322.4 million of new contracts compared to $318.4 million during the second quarter of 2023 and $468.2 million during the third quarter of 2022.

CPS Announces $286.1 Million Senior Subordinate Asset-Backed Securitization

Retrieved on: 
星期二, 十月 24, 2023
CPS, CPSS, Security (finance), Bookkeeping

LAS VEGAS, Nevada, Oct. 24, 2023 (GLOBE NEWSWIRE) -- Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (“CPS” or the “Company”) announced the closing of its fourth term securitization in 2023 on Tuesday, October 24, 2023.

Key Points: 
  • LAS VEGAS, Nevada, Oct. 24, 2023 (GLOBE NEWSWIRE) -- Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (“CPS” or the “Company”) announced the closing of its fourth term securitization in 2023 on Tuesday, October 24, 2023.
  • The transaction is CPS's 49th senior subordinate securitization since the beginning of 2011 and the 32nd consecutive securitization to receive a triple “A” rating from at least two rating agencies on the senior class of notes.
  • In the transaction, qualified institutional buyers purchased $286.1 million of asset-backed notes secured by $306.7 million in automobile receivables originated by CPS.
  • The sold notes, issued by CPS Auto Receivables Trust 2023-D, consist of five classes.