LINCOLN, Neb., June 15, 2016 /PRNewswire/ -- Nelnet (NYSE:
NNI), one of the nation's leading ABS issuers, today announced the
launch of a new online forum designed to facilitate rapid and
effective communication with and among investors in securities
backed by federally guaranteed student loans.
Free for investors, the service is powered by DealVector, the
first global financial asset registry- and identity-protected
communication platform. By registering at DealVector.com/Nelnet,
ABS investors will receive bond-specific notifications and
documentation from Nelnet far more rapidly than through traditional
channels. They can also communicate with Nelnet and other
bondholders through DealVector's secure messaging platform.
Among the first uses of the new service will be the ability to
streamline maturity extensions for NSLT trusts: 2014-4, 2014-5,
2014-6, 2015-1, 2015-2, and 2015-3.
The service will then drive prioritization of subsequent trusts
to amend. Extending a maturity date requires consent from 100% of
investors. The new InvestorLink forum allows Nelnet to prioritize
extension efforts on trusts where investor demand is greatest and
participation highest.
"We are excited to offer this new service to our investors,"
said Greer McCurley, Nelnet's
Executive Director of Capital Markets. "It is a perfect extension
of Nelnet core value to communicate openly and honestly, and we
believe it will lead to a more efficient and more liquid ABS
Market. Ultimately, improved communication benefits us, our
investors, and the market as a whole."
"We encourage investors to register anonymously at
DealVector.com/Nelnet," said McCurley. "Registering allows
investors to ask questions and provide input. More importantly,
once we have 100% participation in a given trust, we know we can
begin the amendment process."
To use the free service, investors register, upload a list of
assets, and receive a numeric ID that protects their identities.
Neither their names nor assets are revealed to any third party, but
the site routes relevant messages directly to their inboxes. They
can correspond with Nelnet and with other investors using their
DealVector IDs. This improves Nelnet's ability to keep investors
informed, solicit their input, and execute amendments requiring
investor votes. It also provides – for the first time – an
all-to-all communication channel among investors
themselves.
"A tension exists between investors' desire for greater
information transparency and their need for confidentiality with
respect to their portfolio composition," explains Mike Manning, DealVector's CEO. "Our service
accommodates both by serving as a confidential 'electronic
intermediary.' In addition, if an issue requiring a vote arises, as
is the case here, investors will be able to complete and e-sign
their ballots online. This simplifies the voting process and
improves response."
About Nelnet
Founded and headquartered in Lincoln, Nebraska, Nelnet is a diversified and
innovative company focused on offering educational services,
technology solutions, telecommunications, and asset management.
Nelnet helps students and families plan and pay for their education
and makes the administrative processes for schools more efficient
with student loan servicing, tuition payment processing, school
administration software, and college planning resources. With the
acquisition of ALLO, Nelnet offers fiber optic services directly to
homes and businesses for ultra-fast internet and superior telephone
and television services. The company also makes investments in real
estate developments and new ventures. For more information, visit
Nelnet.com.
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SOURCE Nelnet