Annual subprime auto issuer markets months ahead of schedule

By Matthew Scully
14 May 2014

Annual issuer Westlake Financial Services, a privately-owned subprime auto lender, may soon issue a new asset backed security, which would come five months ahead of when the firm usually taps capital markets.

The Los Angeles-based lender is scheduling calls with auto ABS investors this week, according to two separate investors with knowledge of the marketing push. A deal could be announced next week, they said.

“Westlake was on the fence about coming to market now, or towards the fall,” said ...

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