College Ave Student Loans Receives a AAA rating for its Third Successful Securitization
WILMINGTON, Del., Sept. 10, 2019 /PRNewswire/ -- College Ave Student Loans, a student loan fintech lender, announced it has completed a $300 million securitization of private student loans, its third securitization and largest to date. The CASL 2019-A transaction, completed over the summer, achieved higher ratings than previous years and highlights College Ave's strong financial growth and position. The transaction was oversubscribed attracting a broad and diverse group of repeat investors and new participants. Barclays and Goldman Sachs were joint lead underwriters on the transaction with Barclays serving as structuring agent and sole bookrunner.
"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."
To date, College Ave Student Loans has $660 million in securitized loans. Based on the three successful securitizations, 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.
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SOURCE College Ave Student Loans
