"We are pleased to debut our securitization sponsorship capability. It allows us to expand access to large scale, long term investors," said Scott Sanborn, CEO of LendingClub. "The incredible demand for the assets we facilitate is a strong indicator of investor confidence in the LendingClub brand and positions us well for future growth." LendingClub anticipates that programmatic use of the CLUB structure could provide institutional ABS investors with consistent access to securitized assets facilitated through its platform, standardization, consistency, and a more efficient means of financing for the long-term. The transaction was rated by Kroll and includes $162.4 million of Class A notes rated "A- (sf)", $41.2 million of Class B notes rated "BBB (sf)" and $75.7 million of Class C notes rated "BB (sf)" backed by approximately $337 million of collateral.

http://www.prnewswire.com/news-releases/lendingclub-closes-first-self-sponsored-securitization-to-expand-investor-access-300478662.html