College Avenue Student Loans has completed its first securitization, a $161 move rated A by DBRS and BBB from S&P for its highest-rated senior notes. The company said the transaction was four-times oversubscribed.
“In its three years in the market, College Ave Student Loans has built and continues to have an incredible reputation among the investment community,” co-founder and CEO Joe DePaulo said.
“The successful first securitization and ratings from DBRS and S&P further confirm the outstanding quality of our assets and portfolio.”
The company expects to offer an annual asset-backed bond opportunity.