Western Funding is now in the securitization business, too.

Late on Friday, the subsidiary company of Westlake Technology Holdings announced the successful closing of its inaugural asset-backed securitization (ABS), WEFUN 2025-1, totaling $400 million.

Management said this transaction marks Western Funding’s debut in the capital markets and reinforces the company’s commitment to growth, innovation, and long-term stability. The ABS was backed by a pool of auto loans originated by Western Funding’s dealer network.

“This is a transformational step for Western Funding,” Western Funding president Jim Murray said. “The success of our first securitization validates the strength of our platform and our future ambitions.”

Structured as a revolving deal with a 24-month reinvestment period, the company said the proceeds from this issuance will be used to support continued loan originations, repay debt, and fund strategic initiatives.

Western Funding added that it will continue to service the underlying assets and to deliver value to its over 2,000 participating dealerships nationwide.

Western Funding’s portfolio now stands at $1.2 billion in auto loans, serving a national footprint across 49 states.

Westlake Financial vice president of capital markets Franka Bicolli highlighted this transaction reflects growing investor confidence in Western Funding’s performance and strategy. It was executed without registration under the Securities Act of 1933 and is compliant with Rule 135c.

“Bringing our first ABS to market is a proud moment for the team,” Bicolli said. “This transaction lays the groundwork for future issuances and expands Western Funding’s access to efficient, scalable capital.”