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Pandit-Backed CommonBond Gets Barclays, Macquarie Funding

  • $275 million in warehouse lines will fuel securitizations
  • Startup hires ex-Lehman banker Starr for capital markets role
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CommonBond Inc., the student-loan venture backed by Vikram Pandit, lined up new funding from Barclays Plc, Macquarie Group Ltd. and others, as Wall Street firms pump more capital into the online lending boom.

The so-called warehouse lines provide CommonBond with an additional $275 million to make loans, according to a statement Tuesday. Once enough debt is originated using the funds, CommonBond will look to package it into securities that can be sold to investors, said David Klein, the company’s co-founder and chief executive officer.