WILMINGTON, Del., Aug. 13, 2015 (GLOBE NEWSWIRE) -- Navient (Nasdaq:NAVI), the nation's leading loan management, servicing and asset recovery company, announced the issuance of $700 million in private education loan asset-backed securities. The collateral backing the Navient Private Education Loan Trust 2015-B transaction consists of seasoned, high-credit quality performing loans primarily from the SLM Private Education Loan Trust 2010-B whose notes were paid off in connection with the new issuance. The weighted average interest rate of the AAA-rated notes issued by the Navient Private Education Loan Trust 2015-B priced at one-month LIBOR plus 1.54 percentage points.
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 government and higher education clients rely on Navient for proven solutions to meet their financial goals. Learn more at navient.com.