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$220,000,000 Class A-1 Floating Rate Asset-Backed Senior Notes
$546,900,000 Class A-2 Floating Rate Asset Backed Senior Notes
$220,000,000 Class A-3 Floating Rate Asset Backed Senior Notes
$15,000,000 Class B Floating Rate Asset Backed Subordinate Notes
Date of Issue: July 26, 2018
Issue Amount: $1,001,900,000
Securities Offered:
Class A-1 Floating Rate Asset-Backed Notes in the aggregate principal amount of
$220,000,000
Rate: One-Month LIBOR +0.30%
CUSIP: 64034AAA1
ISIN: US64034AAA16
Class A-2 Floating Rate Asset-Backed Notes in the aggregate principal amount of
$546,900,000
Rate: One-Month LIBOR +0.44%
CUSIP: 64034AAB9
ISIN: US64034AAB98
Class A-3 Floating Rate Asset-Backed Notes in the aggregate principal amount of
$220,000,000
Rate: One-Month LIBOR +0.75%
CUSIP: 64034AAC7
ISIN: US64034AAC71
Class B Floating Rate Asset-Backed Notes in the aggregate principal amount of
$15,000,000
Rate: One-Month LIBOR +1.20%
CUSIP: 64034AAD5
ISIN: US64034AAD54
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:
BMO Capital Markets
RBC Capital Markets
Goldman Sachs & Co. LLC
Initial Rating:
Senior Series 2018-3 A-1 Notes, A-2 Notes
Aaa Moody's
AAA Fitch
Senior Series 2018-3 A-3 Notes
Aaa Moody's
AA+ Fitch
Subordinate Series 2018-3 B Notes
Aaa Moody's
AA Fitch