DealVector Gains Consent of 100% of Holders in Amending SLABS Indenture for PCG Academic Loan Group

DealVector continues its success in amending SLABS deals requiring consent of 100% of holders with extension of maturity dates for ALG Student Loan Trust II 2007-1 Notes.

PCG Academic Loan Group Inc. has previously stated that it will work with DealVector in early 2021 to amend its ALG Student Loan Trust I and ALG Student Loan Trust II to insert LIBOR fallback language, a process which will also require 100% consent.

NOTICE OF ALG STUDENT LOAN TRUST II AMENDMENT NO. 8 TO INDENTURE

ALG logoDecember 7, 2020

Notice is hereby given by PCG Academic Loan Group Inc., as administrator for ALG Student Loan Trust II (the “Issuer”), that the Issuer received the consent of 100% of the holders of its outstanding Series 2007-1 Notes to enter into Amendment No. 8 to Indenture (“Amendment No. 8”) in order to extend the maturity dates of the Issuer’s Series 2007-1A-3 Senior Notes and Series 2007-1A-4 Senior Notes described below.  On November 18, 2020, the Issuer and Deutsche Bank Trust Company Americas, as indenture trustee, entered into Amendment No. 8.  Accordingly, the maturity date for the Series 2007-1A-3 Senior Notes was extended to June 28, 2025 and the maturity date for the Series 2007-1A-4 Senior Notes was extended to June 28, 2034.

Series 2007-1A-3 Senior Notes
Rule 144A CUSIP Number:  001621 AC 5
Rule 144A ISIN:  US001621 AC 52

Series 2007-1A-4 Senior Notes
Rule 144A CUSIP Number:  001621 AD 3
Rule 144A ISIN:  US001621 AD 36

On November 20, 2020, Moody’s Investors Service announced that it had upgraded its ratings on the Series 2007-1A-3 Senior Notes and the Series 2007-1A-4 Senior Notes to Aaa(sf) and Aa1(sf), respectively, from A1(sf) and Baa3(sf), respectively.

Questions about Amendment No. 8 should be directed to Nimbus One Financial, LLC, as sub-administrator, on behalf of PCG Academic Loan Group Inc., as Issuer Administrator, at:

Nimbus One Financial, LLC
Attn:  Emily Stebing
3268 Governor Drive #319
San Diego, CA  92122-2902
investorrelations@nimbus1.com
(858) 259-7011 ext. 380