CommonBond, an online lender that specializes in student loan refinancing, announced Monday that it has sold $150 million of bundled loans to investors.

The securitization deal comes at a time when many online lenders are having trouble finding buyers for their loans as investors have become more concerned about credit quality across the industry.

CommonBond has a substantially different business model than many other online lenders. The New York firm, founded in 2013, focuses on refinancing debt for relatively low-risk borrowers and boasts that no customers have ever defaulted on its loans.

The assets in the deal were purchased by insurance companies, banks, credit funds and asset managers, CommonBond said in a press release.

The transaction was rated by DBRS. Barclays and Goldman Sachs served as co-lead managers on the deal, according to the press release.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.