CommonBond completes $168M securitization, secures A1 Moody’s rating

Online lender CommonBond has completed a $168 million securitization. Backed by $178 million in collateral, the deal saw Goldman Sachs and Barclays serve as joint lead managers and bookrunners. Barclays also served as the structuring agent while Deutsche Bank was a co-manager.
The securitization, which received an A1 rating from Moody’s and and a AA(low) rating from DBRS, is CommonBond’s third since last June. In April 2016 they completed a $150 million securitization.
Weeks later the company announced more than $300 million of new funding in equity and lending capital, including an equity round led by Neuberger Berman Private Equity that brought its total funding to more than $1 billion.
“CommonBond has built a sterling reputation in the capital markets due to our meticulous, data-driven underwriting,” CommonBond CFO Morgan Edwards said. “As with our previous deals, this securitization was oversubscribed among name brand investors.”

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