SoFi's second securitization courts controversy on execution and ratings

It took only 40 minutes for more than 30 institutional investors to take down $250m in bonds backed by student debt offered by SoFi, the US peer-to-peer lending startup. And it took only two months for Standard & Poor's to go from saying peer-to-peer securitizations were not ready to be assigned public ratings to agreeing to rate one, writes Matt Scully.

  • By Matthew Scully
  • 10 Jul 2014
SoFi, which makes loans to graduate students using funds from their schools' alumni, wooed investors last year with its pitch of being a technologically advanced and socially conscious student lending platform. But it is said to have sidestepped bank partners and irked potential investors in what is ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 10,542 20 18.00
2 Bank of America Merrill Lynch (BAML) 6,103 21 10.42
3 Citi 5,130 13 8.76
4 JP Morgan 4,681 6 7.99
5 Lloyds Bank 3,389 13 5.79

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 70,706.73 201 11.50%
2 Bank of America Merrill Lynch 60,472.76 166 9.84%
3 JPMorgan 48,700.30 139 7.92%
4 Wells Fargo Securities 48,082.68 138 7.82%
5 Credit Suisse 38,376.65 95 6.24%