Strong oversub for SoFi’s latest ABS

By Will Caiger-Smith
26 Jan 2015

San Francisco marketplace lender SoFi sold its fourth and largest yet securitization of student loan refinancings on Friday, pulling in almost $900m of orders and pricing around 3bp inside where its last deal was trading on the secondary market, according to a person at the firm.

SoFi, which connects student loan borrowers directly with investors but is also making a move into the mortgage business, priced the $313.8m deal on Friday last week, through lead managers Morgan Stanley and Goldman Sachs. Barclays, Deutsche Bank and Credit Suisse were co-managers.

The $162.3m fixed rate tranche ...

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