Aug
04
LendingClub Said in Talks With Western Asset on Loan Buying
By-
New fund may buy up to $1.5 billion in loans, people say
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Deal could bolster demand for LendingClub’s consumer loans
LendingClub Corp., looking to bolster demand for the consumer debts it arranges online, is in talks with Western Asset Management Co. to set up a fund that would purchase as much as $1.5 billion of loans over time, people with knowledge of the matter said.
Western, a subsidiary of money manager Legg Mason Inc., would commit to purchasing a certain amount of the lending platform’s loans each month, said one person, who asked not to be identified because the information is private. A deal may be announced in coming weeks, the person said. The agreement isn’t final, so the terms could change and talks may not result in a transaction…
LendingClub Said in Talks With Western Asset on Loan Buying
