Nelnet Initiates Amendment Campaign

Reuters describes how student loan issuer Nelnet has initated a pro-active campaign to extend the maturities of its most recently issued trusts. DealVector is excited to be part of the effort.

Greer McCurley, Nelnet executive head of capital markets, said his company was encouraged by fellow issuer Navient, which secured the required 100% consent from bondholders to extend maturities on some of its FFELP bonds.

‘Until we saw the success of Navient, we didn’t think it was achievable,’ he told IFR. ‘I wish we would have done this three or four months ago.’

Both Navient and Nelnet turned to DealVector, an online identity-protected network that allows investors to find other holders of their bonds, and issuers to communicate directly with many bondholders at once.

Nelnet investors should register here to receive ballots and track progress on the amendments.