Social Finance (SoFi) sold $303.2 million of bonds backed by its private student loans to strong investor demand, according to a person familiar with the deal.

SoFi Professional Loan Program 2014-B issued two tranches. The floating-rate portion, rated single-A by Moody’s Investor Service and Standard & Poor’s, priced at a spread of 125 basis points over one-month Libor. The note were structured with a weighted average life of 3.89-years.

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