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Westlake Issues Its Largest Securitization Ever

Westlake Issues Its Largest Securitization Ever Featured

Westlake Financial Services issued its largest asset-backed securitization of $1 billion, backed by approximately $1.1 billion of automotive finance contracts. It was issued with an expected annualized coupon of 3.28 percent. 
Westlake’s previous securitization was $800 million. This is the company’s first transaction to offer a single-B rated Class F tranche, which added an additional $57 million and brought Westlake’s advance rate to 97 percent.
Last modified on Saturday, 10 February 2018 21:13