Nelnet recently closed Slims (student loan interest margin securitization), a net-interest margin (NIM) deal backed by student loans, which is a class of residuals that has only been repackaged for the term market one or two times before, according to market sources.

The $57.5 million, rule 144A offering was brought to market by Salomon Smith Barney, and featured a triple-A wrap from MBIA. According to IFR Mortgage Data, the one-tranche deal priced at 63 basis points over swaps.

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