Westlake Issues Its Largest Securitization Ever Featured
10 February 2018
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.