The lead underwriters on the $500M deal are Deutsche Bank Securities and RBC Capital Markets.
Nelnet priced $573 million of student loan securities backed by 100% Federal Family Education Loan Program collateral.
Wells Fargo and Deutsche Bank are arranging the deal, which totals $200 million.
Citigroup has priced its latest issuance under the Citibank Credit Card Issuance Trust, a $1.3 billion transaction, according to Standard & Poors.
The$130 million class A-4 notes with a weighted average life of 2.26 years priced at a spread of 32 basis points over interpolated swaps.
Regulation AB governs registration, reporting and disclosure requirements for all things asset-backed. The Securities and Exchange Commission appears to be ready to update it significantly, but, nearly four years after changes were originally proposed, its not clear exactly what the Commission will do.
The swelling trillion-dollar student loan market is missing key data and regulations necessary to head off another financial crisis, according to Rohit Chopra, the Consumer Financial Protection Bureaus top official in charge of dealing with student loans.
The proposal would introduce dissemination of trade prices for securities ranging from highly liquid credit card and auto ABS to smaller and more esoteric deals in asset classes such as time shares, to commercial mortgage-backed securities (CMBS) and highly structured CDOs and collateralized loan obligations.
Overall issuance growth will moderate in 2014, Fitch Ratings' managing director for asset backed securities says in the firm's outlook.
Direct exposure to either J.C. Penney or Sears is typically highest in seasoned deals where there are only a small number of loans remaining, and one is secured by a retail property.
Vice President of Regulatory Compliance
Firm: Clayton Holdings
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