WILMINGTON, Del., Jul 21, 2021 / PRNewswire / – College Ave Student Loans Announced Completion USD 279.6 million USA securitization of private student loans, the second in 2021 and the first to receive an AAA rating from S&P Global. In addition, DBRS Morningstar also assigned an AAA rating to CASL 2021-B senior bonds, just like previous securitizations.
“Obtaining AAA ratings from DBRS and S&P is an important milestone for the company,” he said. Joe DePaulo, CEO and co-founder of College Ave Student Loans. “The AAA ratings are a testament to the stability of our portfolio and reflect the strength of College Ave’s business model.”
Completed in June 2021, the CASL 2021-B deal is the fifth securitization for the company, and as a result, the total amount of securitized loans will exceed $ 1.3 billion… As with previous securitizations, the CASL 2021-B deal generated significant investor demand and a high level of oversubscription with regular investors and new entrants across the entire capital structure. Investor demand for the available bonds was 4.9x. Barclays and Morgan Stanley were joint bookrunners of the deal.
“CASL 2021-B is our most successful ABS release to date,” said DePaulo. “The strong market response is a testament to the recognition of our company, a best-in-class lending platform and an incredible reputation in the investment community.”
The securitization reflects strong performance throughout the year for College Ave. The company continues to expand its product line, recently announcing a new healthcare graduate loan to its portfolio. Forbes advisor, NerdWallet and Money also named College Ave the winner of their lists of Best of 2021 awards in the private student loans category.
About College Ave student loans
College Ave student loans began with a big vision and a simple mission to relieve the stress of college tuition fees so that students can focus on preparing for a brighter future. Currently a leading financial technology lending firm, College Ave remains committed to leveraging best-in-class technology and deep industry expertise to deliver practical and personalized solutions that give young people a quick head start on their journey to financial success. We offer best-in-class products at competitive prices and customer convenience from start to finish. Visit: www.collegeavestudentloans.com
Student Loans SOURCE College Ave