Blue Elephant P2P ABS prices close to BlackRock

Prosper
By Will Caiger-Smith
17 Mar 2015

New York fund Blue Elephant Capital Management has managed to price an unrated $71m securitization of consumer loans originated through Prosper close to where BlackRock printed its rated deal in February.

Citi was bookrunner for the deal, BLT 2015-1, which consisted of a $55.03m Class A tranche and an $8.8m Class B tranche. Both those tranches were publicly placed, and a $3.55m Class C tranche was retained by Blue Elephant.

The transaction was between two to four times oversubscribed, ...

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