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$424,600,000 Class A Floating Rate Asset-Backed Senior Notes
$11,000,000 Class B Floating Rate Asset Backed Subordinate Notes
Date of Issue: February 20, 2020
Issue Amount: $435,600,000
Securities Offered:
Class A Floating Rate Asset-Backed Notes in the aggregate principal amount of
$424,600,000
Rate: One-Month LIBOR +0.74%
CUSIP: 640334GAA8
ISIN: US6366RAA0
Class B Floating Rate Asset-Backed Notes in the aggregate principal amount of
$11,000,000
Rate: One-Month LIBOR +1.75%
CUSIP: 64034GAB6
ISIN: US6366RAB8
Master Servicer and Administrator: National Education Loan Network, Inc.
Indenture Trustee: U.S. Bank National Association
Eligible Lender Trustee: U.S. Bank National Association
Lead Managers:
RBC Capital Markets
BMO Capital Markets
Citigroup
Initial Rating:
Senior Series 2020-1 A Notes
Aaa Moody's
AA+ S&P
Subordinate Series 2020-1 B Notes
Aaa Moody's
AA S&P