LendingClub (LC) Closes First Self-Sponsored Securitization

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LendingClub Closes First Self-Sponsored Securitization to Expand Investor Access

June 22, 2017 5:00 PM EDT

SAN FRANCISCO, June 22, 2017 /PRNewswire/ -- LendingClub (NYSE: LC), America's largest online marketplace connecting borrowers and investors, today closed its inaugural self-sponsored securitization deal. The Consumer Loan Underlying Bond (CLUB) NP Credit Trust 2017-NP1 (CLUB 2017-NP1) issued $279.4 million in notes backed by consumer loan assets facilitated through the LendingClub platform. The transaction marks the start of LendingClub's securitization program as Sponsor, Servicer and Administrator. LendingClub expects to sponsor programmatic securitizations and to use the CLUB structure for future transactions.... More