Nellie Mae, the student loan company absent from the asset-backed market since 1996, is expected to come to market this quarter with a floating-rate transaction that might take its cue from new prospective parent Sallie Mae: issuing Libor-based bonds in order to attract a larger audience.

The deal looks to be in the $100 million range, based on a current shelf filing dubbed Nellie Mae Student Loan Trust 1999-A, and also based on the amount the government-backed loan purchaser has historically issued in prior asset-backed deals.

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