National bank DRB has closed its fifth securitization of refinanced student loans.
The $188 million deal grows its total issuance to north of $1.1 billion.
Led by Credit Suisse, the portfolio makeup was 75 percent fixed rate and 25 percent variable loans.
The transaction’s senior notes were rated A2 to A3 by Moody’s and AA by DBRS.
This is the third large DRB securitization since last November, when DRB announced a $359 million deal. A $333 million securitization took place in December.
Since introducing its student loan refinancing division in 2013, DRB has originated more than $1.4 billion in loans.
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