Sallie Mae is working on the first student loan securitization in nearly a month.
The lender has filed plans with the Securities and Exchange Commission for a new issue of bonds to be backed by private student loans. Details on the preliminary filing are scarce, however: the deal is as yet unsized, and no underwriters are listed.
In fact, the issuing entity is listed as “SLM Private Education Loan Trust 20[__]-[_],” leaving open the possibility that it may not come to market by year’s end.
The filing does indicate that the deal will consist of two senior A tranches and subordinate B tranche.
Sallie Mae was last in the market in early August with a $747 million offering of bonds backed by government guaranteed loans. Kentucky Higher Education Student Loan Corp. also offered a $563 million securitization of government guaranteed loans in early August.