Nelnet is in the market with a $378.3 million deal backed by student loans with Barclays Capital serving as lead manager.

This is Nelnet’s seventh FFELP-backed transaction and consists exclusively of senior notes. The student loan ABS is expected to close on Aug. 3.

Nelnet's offering will have an initial overcollateralization of 3.0% and will permit excess spread to be released once the overcollateralization target parity levels are achieved, according to Standard and Poor’s, which has assigned the bonds a preliminary ‘AAA’ rating.

More preliminary information is available via the ASR Scorecards database through the link below.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.