College Ave Student Loans completes $300 million securitization

College Ave Student Loans, a Wilmington-based fintech company and lender, has completed a $300 million securitization of private student loans. This is the firm’s third and largest securitization.

“In our five years in the market, College Ave Student Loans has built and continues to have a strong reputation among the investment community,” said Joe DePaulo, CEO and co-founder of College Ave Student Loans. “The successful third securitization and higher ratings from DBRS and S&P further confirms the outstanding quality of our assets and portfolio.”

The transaction attracted a diverse group of repeat investors and new participants, according to the firm.

Barclays and Goldman Sachs were joint lead underwriters, with Barclays serving as structuring agent and sole bookrunner.

Since its inception, College Ave Student Loans has $660 million in securitized loans. 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.

You have read 1 out of 4 free articles this month.

Already have an account? Log In

Share This Post

Post Comment