March 16, 2021
College Ave Student Loans Completes $385 Million Securitization
The securitization is its fourth and largest to date; reflects increasing demand for student loans and bonds from College Ave Student Loans
(Wilmington, DE) March 16, 2021 – College Ave Student Loans announced it has completed a $385 million securitization of private student loans, its fourth securitization and largest to date. DBRS Morningstar and S&P Global rated the senior notes AAA and AA respectively, reflecting the strength and top-rated portfolio from College Ave Student Loans.
The CASL 2021-A transaction, completed in February 2021, saw significant investor demand and high levels of oversubscription, building upon the success of previous securitizations and attracting a broad and diverse group of repeat investors and new participants across the capital structure. Barclays and Credit Suisse were joint lead underwriters on the transaction with Barclays serving as structuring agent and sole bookrunner.
“In our six years in the market, College Ave Student Loans has built a strong reputation among the investment community,” said Joe DePaulo, CEO and Co-Founder of College Ave Student Loans. “The market response to this securitization reinforces the depth of interest among institutional investors in our platform and business model, our expertise in student lending, and the stellar credit performance of our student loan portfolio.”
There are now 56 institutional investors participating in the College Ave Student Loans securitization program, with 22 of them new to this issuance, including some of the largest global asset managers.
“CASL 2021-A is our largest and most successful ABS issuance to date, delivering the most cost-effective, long-term financing achieved thus far,” said DePaulo.
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 leading fintech student 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.