It seemed like back to school time last week in the securitization sector, as no less than three student loan ABS issuers came to market with deals totaling about $3.5 billion. That accounted for almost one third of the total $15 billion expected from issuers last week.

Goldman Sachs acted as lead manager on the $2.2 billion National Collegiate Student Loan Trust transaction; Nelnet Student Loan Trust came to market via Banc of America Securities, and the Keycorp Student Loan Trust came to market via Deutsche Bank. By press time, Nelnet Inc. was poised achieved particularly good pricing on its one-year, triple-A rated piece, with spreads talked at negative three basis points on the three-month Libor. The 10.9-year tranche gave up the most, pricing at 20 basis points over the benchmark.

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