Sallie Mae upsized its latest Federal Family Education Loan Program (FFELP) securitization, SLM Student Loan Trust 2013-5 to $995.8 million from $747 million.
According to an SEC registration statement filed Wednesday evening, the student lender has resized all of the Moody’s Investor Service and Fitch Ratings, rated ‘Aaa’/ ‘AAA’ notes. The class A-1 tranche was resized to $203 million from $153 million; the class A-2 notes have been resized to $256 million from $192 million; and class A-3 notes have been resized to $509 million from $380.4 million.
The ‘Aa1’/ ‘A+’ class B notes were resized to $27.4 million from $20.6 million.
