The transaction utilizes a pre-funding structure, in which CPS sold approximately $105.3 million of receivables today and plans to sell approximately $41.7 million of additional receivables during October 2012. This further sale is intended to provide CPS with long-term financing for receivables purchased primarily in the month of September. The transaction also included $10.3 million of receivables originally originated by CPS in 2006 and 2007 that were recently repurchased from a securitization transaction which closed in 2007.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.
CONTACT: Investor Relations Contact Robert E. Riedl, Chief Investment Officer 949 753-6800