SoFi Completes $411.9 Million Securitization. Largest to Date

Largest and Highest Rated Marketplace Securitization to Date Brings Total Issuance In Excess of $1.55 Billion

SoFi 2 BillionSoFi, a young marketplace lending platform, has closed a $411.9 million securitization of refinanced student loans. Moody’s, Standard & Poor’s and DBRS gave the highest rated senior notes Aa2/A/AA (high) respectively. SoFi is the largest provider of student loan refinancing, with over $2.5 billion dollars in loans funded to date.

This marks the largest securitization for a marketplace lender and is the only securitization of refinanced student loans to achieve such a rating.  This is SoFi’s fifth securitization; the firm completed its first in 2013.  In 2014, SoFi became the first marketplace lender to secure investment grade ratings from S&P and Moody’s for senior notes in a securitization.

According to SoFi, the transaction was comprised of $146.676m of floating rate A-1 notes, $235.445m of fixed rate A-2 notes, and $29.78m of Class B bonds. It was backed by $441m in collateral.  Goldman Sachs and Morgan Stanley led the transaction. Nino Fanlo

“Creating a capital efficient market helps us fuel a virtuous cycle, which in turn supports our goal of providing the best products and borrowing climate for our members,” said Nino Fanlo, SoFi CFO and COO.  “Securing the highest ratings for a marketplace lender is further proof of the stability and appeal of our platform and the category overall.   As we complete our fifth securitization, it’s gratifying to be continually broadening our universe of investors and spreading SoFi’s brand to more companies, investors and individuals.”


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