Student lender Nelnet has filed to go public Tuesday, according to records filed with the Securities and Exchange Commission. The company plans to raise $200 million in its offering, to be led jointly by Banc of America Securities and JPMorgan Securities, at a yet-to-be determined share price.
In the filing, Nelnet outlines its operations, including $18 billion in loans serviced. Nelnet originated or acquired $2.7 billion in new loans in 2002, of which $859 million were consolidation loans, which cannot be refinanced again. Its own portfolio sits at $9.5 billion.
Last year, Nelnet generated $190 million in net-interest income and $125 million in servicing fee income.
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