Nelnet offers inaugural debt deal

Nelnet Inc. began marketing its inaugural debt offering today, $250 million of senior notes due 2010, via Citigroup Global Markets and JPMorgan Securities. Proceeds from the offering will go towards repayment of amounts outstanding under its line of credit, borrowings under which were utilized for working capital purposes, as well as the expansion of marketing efforts, capital expenditures and technology developments, working capital, warehouse financing for partially and fully disbursed FFELP loans, private education and consumer education loans, and possible acquisitions.