United States: Orrick Advises Prosper Marketplace In Up To $5 Billion Loan Purchase Transaction With Consortium Of Investors
Last Updated: March 27 2017

Orrick has advised leading online consumer lending marketplace, Prosper Marketplace, in a deal with a consortium of institutional investors to purchase up to $5 billion of loans through the Prosper platform over the next 24 months. The investors in the consortium are affiliates of New Residential Investment Corp., Jefferies Group and Third Point, and an entity of which Soros Fund Management serves as principal investment manager. The consortium will also earn an equity stake in the company based on the amount of loans purchased. Warehouse financing of up to $1 billion will be provided by a syndicate of lenders including Credit Suisse, Deutsche Bank, Goldman Sachs and Morgan Stanley.

Orrick acts as Prosper's outside corporate counsel and advises on an array of matters for the company. The Orrick team advising on this transaction was led by partner Jeannie Shin and included assistance from senior counsel Dora Mao, partners Thomas Mitchell, Eric Wall and Jason Flaherty, and associates Hari Raman, Julia Ledbetter and Stephanie Richards.

To print this article, all you need is to be registered on Mondaq.com.

Click to Login as an existing user or Register so you can print this article.

 
Some comments from our readers…
“The articles are extremely timely and highly applicable”
“I often find critical information not available elsewhere”
“As in-house counsel, Mondaq’s service is of great value”

Press Releases from this Firm
Recent Content from this Firm
By Annette Hurst
By Cristopher Grew, Shawn Atkinson
By Employment Law And Litigation
By Equal Pay Pulse
By IP Landscape
By Trade Secrets Watch, Tierra Piens
By Securities Litigation, Investigations And Enforcement
By Barrie VanBrackle, Howard S. Altarescu
By Alessandro Mainardi, Camillo Melotti Caccia
By A. Zarnowiecki, Christopher Gladbach, Rohit Sachdev
Tools
Print
Font Size:
Translation
Channels