CommonBond Issues Securitization

CommonBond, which helps people finance student loans, announced today its second AAA-rated securitization from Moody’s and DBRS. At $292 million of total collateral, the transaction is the company’s largest to date. It is CommonBond’s second securitization of 2018 and its seventh altogether. The company, which competes with SoFi, now has a total securitized loan amount to over $1.5 billion.

A mix of new and current investors participated in the transaction. Goldman Sachs served as structuring agent, co-lead manager, book-runner, and co-sponsor for this securitization. Barclays, Citi, and Guggenheim Securities also were co-lead managers and book-runners on the transaction.

“Our recent securitization continues the company’s track record of strong credit performance and consistent growth,” said Sam Luk, head of capital markets at CommonBond.

CommonBond was founded in 2011 and is based in New York.