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Report: LendingClub planning to sell bonds backed by unsecured loans

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Report: LendingClub planning to sell bonds backed by unsecured loans

LendingClubCorp. is pursuing its first sales of bonds backed by the company'sunsecured loans, The Wall Street Journalreported April 26, citing "people familiar with the matter."

Goldman SachsGroup Inc. and Jefferies Group LLC were engaged in connection with thesecuritization deals, according to the report. Theexact structure and number of potential transactions could not be determined. Aspokesman for the company declined to comment, the news outlet said.

LendingClub is seeking new sources of funding in achallenging market environment. The online peer-to-peer marketplace has raisedinterest rates on new borrowers to improve investors' returns, according to thereport.