Prosper President Ron Suber is unhappy that when Citigroup got a cold reception from investors for a batch of securitized personal loans, they still sold them, but with yields as much as 5% points higher than for a similar deal late last year.
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Prosper kicks Citigroup to the curb after disappointing securitization
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In March, though, a bond offering from Citigroup based on a batch of personal loans made by Prosper got a cold reception from investors, who demanded yields as much as 5 percentage points higher than for a similar deal late last year. The end of the arrangement was previously reported by Reuters. Some at Prosper felt that Citigroup shouldn’t have sold the loans when the market was under pressure and demand was weak, according to a person familiar with the firm’s thinking.
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