College Ave Student Loans Completes $161MM in Inaugural Securitization
Private student loan marketplace lender securitization receives ‘A’ rating from DBRS
(WILMINGTON, DE) OCTOBER 2, 2017
College Ave Student Loans, the leading next-generation student loan marketplace lender, announced it has completed a $161 million securitization of private student loans, its first securitization. The CASL 2017-A transaction, completed over the summer, received an ‘A’ rating from DBRS and a ‘BBB’ rating from S&P for its highest-rated senior notes. The transaction was four-times oversubscribed. Barclays was the underwriter on the transaction.
“In its three years in the market, College Ave Student Loans has built and continues to have an incredible reputation among the investment community,” said Joe DePaulo, CEO and Co-Founder of College Ave Student Loans. “The successful first securitization and ratings from DBRS and S&P further confirms the outstanding quality of our assets and portfolio.”
Based on the successful first deal, College Ave Student Loans anticipates it will offer an asset-backed bond opportunity annually. The securitization also marks a year of growth for College Ave Student Loans. To date, the company has secured more than $2 billion of committed loan purchasing power from multiple sources. In addition, the company expects to increase staff at its headquarters over the coming months.
About College Ave Student Loans
College Ave Student Loans is simplifying the student loan experience so students can get on with what matters most: preparing for a bright future. As a fintech lending company with a sole focus on private student loans, we’re using technology and our deep industry expertise to connect families who need to cover education costs with lenders who can provide that funding. By specializing in student loans, we are able to give our customers the attention they deserve and deliver loans that are simple, clear, and personalized for the individual: we help you find your perfect fit. We offer competitive rates, a wide range of repayment options, and a customer-friendly experience from application through repayment. Visit www.collegeavestudentloans.com.
Media Contacts:
College Ave Student Loans
Angela Colatriano, 302-684-6066
[email protected]
or
Duffy & Shanley, Inc.
Emily Hollenbeck, 401-278-4432
[email protected]