College Ave Student Loans Completes Successful Second Securitization
$199 million private student loan securitization reflects increasing demand for College Ave student loans and bonds
(Wilmington, DE) September 11, 2018
College Ave Student Loans, a student loan fintech lender, announced it has completed a $199 million securitization of private student loans, its second securitization. The CASL 2018-A transaction, completed over the summer, achieved higher ratings than College Ave’s inaugural securitization, receiving an ‘AA’ rating from DBRS and an ‘A’ rating from S&P for its senior notes. The transaction was heavily oversubscribed attracting a broad and diverse group of repeat investors and nine new participants. Barclays and Credit Suisse were joint lead underwriters on the transaction with Barclays serving as structuring agent and sole bookrunner.
“In its four 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 second securitization and higher ratings from DBRS and S&P further confirms the outstanding quality of our assets and portfolio.”
Based on the two successful deals, College Ave Student Loans anticipates it will offer an asset-backed bond opportunity at least 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.
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,
Katherine Jacobs, 302-684-6066
[email protected]
or
Duffy & Shanley, Inc.,
Emily Hollenbeck, 401-278-4432
[email protected]