SoFi made it into the news yet again. The leading player in the U.S. student loan refinancing market announced earlier this month its most substantial asset-backed securitization since its inception.

In its 10th ABS transaction this year, the company closed a $777 million offering for SoFi Professional Loan Program 2017-E notes. The move raises its total issuance for just this year to over $5 billion, amounting to over $12 billion throughout company history.

Deutsche Bank, Bank of America Merrill Lynch, Goldman Sachs, and Morgan Stanley were the joint managers of the deal. Following the closing, SoFi remains a top ABS sponsor.

Ashish Jain, the Senior Vice President of Capital Markets for SoFi, confirmed that the deal brought several new investors, expanding the current reach of SoFi's platform to more than 100 ABS investors this year.

Jain also pointed out that SoFi 2017-E was further proof of the company's leadership position in the student lending business and the underwriting industry overall.

MUST READ:
CFPB Uncovers Illegal Auto Defaults of Student Loan Debt

This transaction marks the first Student Loan refinancing house to receive AAA ratings from top-tier financial services companies such as Moody's, DBRS, and Standard & Poor's. SoFi also became the first Unsecured Personal Loan issuer to get AA ratings by Standard and Poor's, DBRS, and Kroll.

At any rate, this is clear proof that SoFi is still growing as a major fintech, financial resource, and lending company, despite a recent setback such as the bid for an industrial loan charter.

Just recently, SoFi announced a new student loan refinancing product in an attempt to secure high-quality borrowers looking to complete their medical residency.

Given its success, plenty of companies have looked into acquiring SoFi, including large banks and banks overseas. However, the asking price for SoFi reached $10 billion, a steep price, according to The Student Loan Report.