Online Lender SoFi Gets First AAAs on Its Student-Loan Bonds
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Social Finance Inc., the four-year-old online lender that’s said to be in talks to raise about $800 million in a new round of capital, is getting top ratings for the first time on securities backed by its student loans.
DBRS Ltd. is granting AAA grades to $387 million of the notes in a $418 million offering Wednesday, according to a presale report. The deal came as Citigroup Inc. issued $377 million of bonds backed by consumer loans from Prosper Marketplace Inc., another Silicon Valley finance company.