College Avenue Student Loans, an online lender founded by two former Sallie Mae executives, is making its first trip to the securitization market.

The transaction, called College Ave Student Loans 2017-A, will issue for tranches of notes totaling $160.89 million, according to DBRS, which is rating the deal. Two senior tranches, one fixed-rate and one floating-rate, are provisionally rated A; there are also two subordinate, fixed-rate tranches, one rated BBB and the other BB. All of the notes have a final maturity of November 2046.

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