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."
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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