LendingClub Issues Over $2 Billion in CLUB Certificates
- S&P 500 ends off day's lows; Powell says Fed still a ways away from rate hikes
- Facebook (FB) Tops Q2 EPS by 59c, DAUs were 1.91 billion on average
- Robinhood (HOOD) IPO Prices at $38, Low End of Range
- PayPal (PYPL) Tops Q2 EPS by 2c, Guidance Misses
- Alphabet (GOOGL) Crushes Q2 Expectations to Send Shares Higher as Search and YouTube Excel, Attracts a New Street-High Price Target
Closes $1 Billion in Just 6 months After Reaching the Program's First Billion in November 2018
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
SAN FRANCISCO, July 1, 2019 /PRNewswire/ -- LendingClub Corporation (NYSE: LC), America's largest online lending marketplace connecting borrowers and investors, has issued over $2 Billion in CLUB Certificates since the launch of this program less than 18 months ago.
It took a year for the company to issue its first billion in CLUB Certificates and six months to issue the second billion. This structure consists of whole loans structured as a pass-through security. The instrument trades in the over-the-counter market with a CUSIP and is cleared through the Depository Trust and Clearing Company (DTCC).
"We continue to innovate on products and structures and diversify our investor base," said Valerie Kay, Chief Capital Officer of LendingClub. "We expect to further deepen investor access to consumer credit through a variety of new products and structures in 2019 and beyond."
CLUB Certificates can be seen on dv01, Bloomberg and Intex with the "CLUBC" ticker.
About LendingClubLendingClub was founded to transform the banking system to make credit more affordable and investing more rewarding. Today, LendingClub's online credit marketplace connects borrowers and investors to deliver more efficient and affordable access to credit. Through its technology platform, LendingClub is able to create cost efficiencies and passes those savings onto borrowers in the form of lower rates and to investors in the form of risk-adjusted returns. LendingClub is based in San Francisco, California. Currently, residents of the following states may invest in LendingClub notes: AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, ME, MD, MI, MN, MO, MS, MT, ND, NE, NH, NJ, NV, NY, OK, OR, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, or WY. All loans are made by federally regulated issuing bank partners. More information is available at https://www.lendingclub.com.
Safe Harbor StatementSome of the statements above, including statements regarding future product initiatives, are "forward-looking statements." The words "anticipate," "believe," "estimate," "expect," "intend," "may," "outlook," "plan," "predict," "project," "will," "would" and similar expressions may identify forward-looking statements, although not all forward-looking statements contain these identifying words. Factors that could cause actual results to differ materially from those contemplated by these forward-looking statements include those factors set forth in the section titled "Risk Factors" in our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, each as filed with the SEC. We may not actually achieve the plans, intentions or expectations disclosed in forward-looking statements, and you should not place undue reliance on forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in forward-looking statements. We do not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Information in this press release is not an offer to sell securities or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
Additional information about LendingClub is available in the prospectus for LendingClub's notes, which can be obtained on LendingClub's website at https://www.lendingclub.com/info/prospectus.action.
View original content to download multimedia:http://www.prnewswire.com/news-releases/lendingclub-issues-over-2-billion-in-club-certificates-300878041.html
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Minim, Inc (MINM) Announces Launch of $25M Proposed Public Offering of Common Stock
- Rollins (ROL) announces Julie Bimmerman was appointed as Interim Chief Financial Officer and Treasurer
- Exela Technologies (XELA) Reports Strong SMB User Growth with Over 2x New Sign-ups
Create E-mail Alert Related CategoriesPress Releases
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!