More rehabilitated student loans are headed for the securitization market through Navient Solutions, the nation’s largest student loan servicer and spin-off from SML Corp., better known as Sallie Mae.

A single class of floating-rate Class A notes totaling $896 million is being issued through the Navient Student Loan Trust in the seven-death conducted by Navient this year. The coupon rate is to be determined, but will be based on the one-month Libor rate. The notes will carry a legal maturity date of March 2066.

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