In a significant buildup of its asset-based loan business, BankAmerica Corp. said it has agreed to pay $1.8 billion in cash to a Ford Motor Co. affiliate for a $1.8 billion commercial leasing portfolio.

Announcing the purchase Friday, BankAmerica also said it will form a partnership with the Ford affiliate, USL Capital Corp., to manage another $1.7 billion of commercial leases.

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