SoFi And BlackRock Partner On $375M Personal Loan Securitization
Portfolio Pulse from Benzinga Newsdesk
SoFi Technologies (NASDAQ:SOFI) has announced a $375 million personal loan securitization deal with BlackRock (NYSE:BLK). The transaction, backed by a pool of SoFi personal loan collateral, is expected to settle by mid-November. SoFi has previously sold over $14.5 billion and securitized over $13.7 billion of personal loan collateral. Citi is the advisor and initial purchaser to this transaction.
October 30, 2023 | 1:16 pm
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POSITIVE IMPACT
BlackRock's partnership with SoFi for a $375 million personal loan securitization could provide it with differentiated investment opportunities.
The partnership with SoFi provides BlackRock with a unique investment opportunity in the form of a personal loan securitization. This could potentially diversify its investment portfolio and increase its returns.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
SoFi's partnership with BlackRock for a $375 million personal loan securitization could enhance its lending capabilities and member services.
The partnership with BlackRock provides SoFi with additional capital, which could be used to expand its lending capabilities and improve its services. This could potentially attract more members and increase its revenues.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100