WestLB has been busy lately. In addition to its recent subprime auto transaction for SeaWest Financial Corp., WestLB quietly brought a first-timer to market in late July - a small-ticket equipment leasing company.

Though Financial Pacific Leasing has had a presence in the conduit market, last month's close represents its first term transaction, a $70 million, one-tranche deal wrapped to a triple-A by Financial Security Assurance. The 1.57-year class carries a 2.29% coupon.

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