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$343,600,000 Class A Floating Rate Asset-Backed Senior Notes
$9,000,000 Class B Floating Rate Asset Backed Subordinate Notes
Date of Issue: March 19, 2020
Issue Amount: $352,600,000
Securities Offered:
Class A Floating Rate Asset-Backed Notes in the aggregate principal amount of
$343,600,000
Rate: One-Month LIBOR +0.92%
CUSIP: 64035BAA8
ISIN: US64035BAA89
Class B Floating Rate Asset-Backed Notes in the aggregate principal amount of
$9,000,000
Rate: One-Month LIBOR +1.90%
CUSIP: 64035BAB6
ISIN: US64035BAB62
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
Initial Rating:
Senior Series 2020-3 A Notes
Aaa Moody's
AA+ S&P
Subordinate Series 2020-3 B Notes
Aaa Moody's
A S&P