SoFi Completes Inaugural Securitization
San Francisco, CA (PRWEB) December 23, 2013 -- SoFi (Social Finance, Inc.), the private lender, announced today it has closed its inaugural securitization of post-graduate student loans. The transaction marks the first time a P2P lender has completed a public securitization.
Approximately $152MM of Senior Notes, rated Single-A by DBRS, were sold to top-tier institutional investors.
“This is a pivotal milestone for our company and the industry more broadly.” said SoFi Chief Financial Officer Nino Fanlo. “Successfully accessing the capital markets is a critical step in ensuring our borrowers and investors get the best deal available.”
Morgan Stanley & Co. LLC, an affiliate of Morgan Stanley (NYSE: MS), served as underwriter, and SoFi Securities assisted in placing the transaction.
About SoFi
SoFi is the market leader in refinancing student loans and has funded $275 Million in loans to students and graduates from over 100 top universities. The company connects alumni borrowers with investors to reduce the cost of their student loans. Benefits like events, career advice, and professional mentorship deliver value beyond a traditional bank. To learn more about SoFi visit: http://www.SoFi.com.
Arden Grady, SoFi (Social Finance, Inc.), http://www.SoFi.com, +1 (415) 697-2045, [email protected]
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