Nelnet is readying a new student loan backed ABS deal. The deal, Nelnet Student Loan Trust 2009-2, is a single-tranche offering sized at $434 million.
The transaction is backed by Federal Family Education Loan Program (FFELP) Loans, which are 97 percent guaranteed by the US Department of Education.
The indenture trustee on the transaction is Wells Fargo, with Zions First National Bank acting as eligible lender trustee and M&T Trust Company serving as Delaware trustee.
The deal is expected to be rated AAA by Fitch Ratings.
Source: http://www.anotherfp.com/newsite/