The Massachussetts Educational Financing Authority is issuing $162.23 million of private student loan revenue bonds, according to Fitch Ratings. The offering consists of two tranches:a $118.99 million senior tranche maturing in July 2032 is rated AA by Fitch Ratings; a $43.24 million subordinate tranche maturing in July 2046 is unrated.

The master trust will be collateralized by approximately $188.8 million of existing private student loans originated with proceeds from a previous bond offering; approximately $170 million of new loans is expected to be added to the trust at the end of the acquisition period from the proceeds of this issuance. An additional $11.2 million of additional loans are expected to be added with existing recycling funds.

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