Nelnet issuers launch consent solicitations for student loan securitizations

By Sarah Lizee

Olympia, Wash., June 10 – Nelnet, Inc. said some of its student loan securitization issuers have started consent solicitations from holders of their notes.

The issuers seek to amend the note indentures to permit Nelnet or one of its affiliates to purchase the Federal Family Education Loan Program loans securing the notes and the related issuers to redeem their notes on the corresponding distribution dates.

The issuers participating in the consent solicitations are Nelnet Student Loan Trust 2010 1, Nelnet Student Loan Trust 2010 2, Nelnet Student Loan Trust 2010 3, Nelnet Student Loan Trust 2010 4, Nelnet Student Loan Trust 2011 1 and Bank of America Student Loan Trust 2010 1.

The Bank of America Student Loan Trust 2010-1 and Nelnet Student Loan Trust 2011-1 notes would be redeemed at 101.5, while the Nelnet Student Loan Trust 2010-1, Nelnet Student Loan Trust 2010-2, Nelnet Student Loan Trust 2010-3 and Nelnet Student Loan Trust 2010 4 notes would be redeemed at 101.75, in each case plus accrued interest.

BofA Securities, LLC (attn: John A. Semrai, 646 855 8086) is transaction manager for the consent solicitations.

Nelnet provides education planning and financing and is based in Lincoln, Neb.

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