Online lender SoFi and Connecticut based Darien Rowayton Bank have entered the ABS market with a combined total of $700m in bonds backed by private student loans, fueling analysts’ expectations of a strong year of growth for student loan refinancings.
Goldman Sachs, Morgan Stanley, and Deutsche Bank are lead underwriters on the SoFi deal. DBRS and Moody’s have assigned preliminary ratings of AAA and Aa2 to the $133.56m class ‘A-1’ notes. The $367.87m class ‘A-2’ notes have been assigned ratings of AAA and Aa2, while. . .Continue reading on Global Capital.