GM, CPS price first auto ABS deals of 2018

By Max Adams
09 Jan 2018

GM Financial and Consumer Portfolio Services hit the ABS primary market with the first US auto loan transactions of the year on Tuesday, with heavy demand for paper helping both issuers tighten pricing from guidance.

Citi led the $190m CPS subprime offering, CPSART 2018-A. Pricing on all classes of the deal was tightened from guidance, with the $88.46m ‘A’ class priced at 27bp over euro dollar spot forward, from the 30bp area given at guidance. The senior bonds were rated triple-A by ...

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