SAN FRANCISCO, Calif. – December 8, 2017 – SoFi announced today the closing of its $769 million offering of SoFi Private Student Loan notes (SoFi 2017-F).
The closing marked the company’s 12th ABS transaction this year, bringing its total issuance in 2017 to $6.9 billion, up from $4.2 billion in 2016. The 2017 total includes six Student Loan ReFi and six Consumer Loan transactions.
The 2017-F closing maintains SoFi’s ranking in the top ten ABS issuers for 2017, highlighting its industry leadership. In 2017, SoFi became the first Student Loan Refi issuer to achieve AAA ratings from Standard & Poor’s, Moody’s and DBRS, and the first Unsecured Personal Loan issuer to achieve AA ratings from S&P, Kroll, and DBRS.
“We’re very gratified by the expanded investor participation in our securitizations this year, which reflects well on the strength of our lending and underwriting, “said Ashish Jain, Senior Vice President of Capital Markets for SoFi. “This year, the number of investors participating in our securitizations has risen to 158 from 115 in 2016.”
The 2017-F securitization was heavily subscribed, with 38 unique investors and $2.3bn in total orders. Joint lead managers were Morgan Stanley, Bank of America Merrill Lynch, Credit Suisse and Goldman Sachs.
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