Navient is marketing $1.1 billion of bonds backed by federally guaranteed student loans, according to Moody’s Investors Service.

Navient Student Loan Trust 2016-1 will issue $1.08 billion of floating-rate notes with a legal final maturity of 2070 with a preliminary ‘Aaa’ rating from Moody’s and $29 million of floating-rate notes maturing in 2071 rated ‘A2’.

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