Consumer Portfolio Restructures Its Debt
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Consumer Portfolio Services Inc. said Friday it has restructured its outstanding privately held debt, adding $16 million in new loans. The Irvine auto financing company said that in the restructuring, its existing senior subordinated lender, Levine Leichtman Capital Partners, lent the additional funds to bring the creditor’s total direct investment in the company to $46 million. The proceeds of the new loan were used to repay in full existing senior secured lenders, a group led by State Street Bank & Trust Co.
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