Navient announces extension of legal final maturity date of 6 FFELP bonds
April 07 2016 - 9:00AM
Navient (Nasdaq:NAVI), the nation’s leading loan management,
servicing and asset recovery company, today announced the amendment
of transaction agreements for six Navient-sponsored securitizations
totaling $281 million of bonds backed by federally guaranteed
student loans. The amendments were effective as of April 6, 2016,
and extend the legal final maturity date on the subordinate
tranches of SLM Student Loan Trust 2007-7 to 2070, SLM Student Loan
Trust 2008-2 to 2083, SLM Student Loan Trust 2008-3 to 2083, SLM
Student Loan Trust 2008-6 to 2083, SLM Student Loan Trust 2012-2 to
2072 and SLM Student Loan Trust 2012-3 to 2072.
Since December 2015, Navient has extended the legal
final maturity dates on $3.5 billion of bonds from
Navient-sponsored FFELP securitizations.
Holders of other bonds may visit Navient’s online
investor communication forum at www.dealvector.com/navient to
discuss requested legal final maturity date amendments with fellow
investors or with Navient directly.
About Navient
As the nation's leading loan management, servicing
and asset recovery company, Navient (Nasdaq:NAVI) helps customers
navigate the path to financial success. Servicing more than $300
billion in student loans, the company supports the educational and
economic achievements of more than 12 million Americans. A growing
number of public and private sector clients rely on Navient for
proven solutions to meet their financial goals. Learn more at
navient.com.
Contact:
Media: Patricia Nash Christel, 302-283-4076, patricia.christel@navient.com
Investors: Joe Fisher, 302-283-4075, joe.fisher@navient.com
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