Nelnet in the Market with a FFELP-Backed Deal
July 28, 2010
Nelnet is in the market with a $378.3 million deal backed by student loans with Barclays Capital serving as lead manager.
This is Nelnet’s seventh FFELP-backed transaction and consists exclusively of senior notes. The student loan ABS is expected to close on Aug. 3.
Nelnet's offering will have an initial overcollateralization of 3.0% and will permit excess spread to be released once the overcollateralization target parity levels are achieved, according to Standard and Poor’s, which has assigned the bonds a preliminary ‘AAA’ rating.
More preliminary information is available via the ASR Scorecards database through the link below.
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