Sallie Mae is marketing a $747 million of securitization of government guaranteed student loans.
The deal, SLM Student Loan Trust 2013-4, is the lender’s fourth securitization of Federal Family Education Loan Program (FFELP) non-consolidation loans this year, according to a Moody’s Investors Service presale report.
Sallie Mae last marketing a FFLEP backed student loan ABS in June.
Moody’s and Fitch Ratings assigned a preliminary ratings of ‘Aaa’ / ‘AAA’ to the class A notes, respectively; and ‘Aa1’/ ‘A+’ ratings to the class B notes, respectively. Bank of America Merrill Lynch and Credit Suisse are lead managers on the deal.
