Westar Financial Services, an innovator in the automobile finance industry, is close to establishing a securitization facility with multiple asset-backed commercial paper conduits, in which the company will warehouse its auto leasing assets.

Later this year, Westar will close its first term deal outside of the traditional private market, worth between $150 million and $200 million. The company has been privately placing small auto lease-backed securitizations and portfolio sales with investors for several years, for approximately $600 million in combined volume.

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