Within a week of leveraging additional vehicle location data and analytics to mitigate its risk, Westlake Financial Services announced on Tuesday that the finance company issued a $700 million asset-backed securitization backed by approximately $748.7 million of automotive loans and installment contracts.

The transaction — Westlake’s largest-ever securitization — was led by BMO Capital Markets (structurer), Wells Fargo Securities and J.P. Morgan Securities. It is the latest of Westlake’s 13 securitizations, which have been comprised of approximately $5.1 billion in cumulative note sales.

“This is Westlake Financial Services’ largest ABS ever,” Westlake chief financial officer Paul Kerwin said. “With Westlake’s rapid growth, our credit performance continues to remain strong despite competitive and economic pressures. This combination is what attracts investors to our portfolio.”

Westlake indicated the securitization has an expected annualized cost of 2.73 percent, including the initial purchaser’s fees, which is in-line with prior ABS deals despite higher benchmark interest rates.

“Westlake’s ABS continue to perform and investors keep supporting our portfolio,” added Sean Morgan, Westlake’s AVP of Finance. “This is demonstrated by how closely we price to our largest competitors.”

Westlake Financial Services director of treasury Elias Drucker went on to say, “We upsized our deal by $100 million with 38 investors on WLAKE 2017-1, which is a reflection of strong investor demand for Westlake’s ABS. It is a credit to our strength as an originator and servicer, and shows that investors respect Westlake’s continued focus on growth and profitability.”

Westlake noted that it maintains six borrowing facilities funded by 10 banks with combined capacity of $1.48 billion. Facility capacity has increased from $1.05 billion in March 2016 to support continued growth in its full-spectrum lending platform.

Westlake Financial Services mentioned that it continues to see strong growth through its nationwide network of dealers. As one of the largest privately-held automotive finance companies, Westlake is active in all 50 states with a dealer base of more than 10,000 franchise and independent dealerships.

Westlake’s current portfolio of $3.7 billion includes originated vehicle installment contracts, portfolio purchases and dealer flooring lines.