Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil EL&P Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Navient completes plans for orderly LIBOR transition By: Navient Corporation via GlobeNewswire June 05, 2023 at 17:31 PM EDT WILMINGTON, Del., June 05, 2023 (GLOBE NEWSWIRE) -- Navient (Nasdaq: NAVI), a leader in technology-enabled education finance and business processing solutions, announced that it plans to transition outstanding U.S. Dollar (USD) LIBOR-indexed Navient-issued instruments to Secured Overnight Financing Rate (SOFR) after June 30, 2023. USD LIBOR will stop being published after June 30, 2023 and will be replaced by SOFR in many financial contracts. Navient and certain of its affiliates/subsidiaries have issued private education loans and asset-backed securities that are indexed to USD LIBOR. Starting in July, the relevant LIBOR rate included in impacted LIBOR contracts will be replaced with the applicable SOFR rate and tenor spread adjustment provided for in the Adjustable Interest Rate (LIBOR) Act of 2022 and the Federal Reserve Board’s final rule issued pursuant to the LIBOR Act. Navient has notified its customers whose education loans are impacted by this change. Information for customers can be found by visiting Navient.com/SOFR. In addition, Navient has notified holders of impacted asset-backed securities. Information for investors can be found at Navient.com/ABS. About NavientNavient (Nasdaq: NAVI) provides technology-enabled education finance and business processing solutions that simplify complex programs and help millions of people achieve success. Our customer-focused, data-driven services deliver exceptional results for clients in education, healthcare and government. Learn more at Navient.com. Contact:Media: Paul Hartwick, 302-283-4026, paul.hartwick@navient.comInvestors: Jen Earyes, 703-984-6801, jen.earyes@navient.com Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Navient completes plans for orderly LIBOR transition By: Navient Corporation via GlobeNewswire June 05, 2023 at 17:31 PM EDT WILMINGTON, Del., June 05, 2023 (GLOBE NEWSWIRE) -- Navient (Nasdaq: NAVI), a leader in technology-enabled education finance and business processing solutions, announced that it plans to transition outstanding U.S. Dollar (USD) LIBOR-indexed Navient-issued instruments to Secured Overnight Financing Rate (SOFR) after June 30, 2023. USD LIBOR will stop being published after June 30, 2023 and will be replaced by SOFR in many financial contracts. Navient and certain of its affiliates/subsidiaries have issued private education loans and asset-backed securities that are indexed to USD LIBOR. Starting in July, the relevant LIBOR rate included in impacted LIBOR contracts will be replaced with the applicable SOFR rate and tenor spread adjustment provided for in the Adjustable Interest Rate (LIBOR) Act of 2022 and the Federal Reserve Board’s final rule issued pursuant to the LIBOR Act. Navient has notified its customers whose education loans are impacted by this change. Information for customers can be found by visiting Navient.com/SOFR. In addition, Navient has notified holders of impacted asset-backed securities. Information for investors can be found at Navient.com/ABS. About NavientNavient (Nasdaq: NAVI) provides technology-enabled education finance and business processing solutions that simplify complex programs and help millions of people achieve success. Our customer-focused, data-driven services deliver exceptional results for clients in education, healthcare and government. Learn more at Navient.com. Contact:Media: Paul Hartwick, 302-283-4026, paul.hartwick@navient.comInvestors: Jen Earyes, 703-984-6801, jen.earyes@navient.com
WILMINGTON, Del., June 05, 2023 (GLOBE NEWSWIRE) -- Navient (Nasdaq: NAVI), a leader in technology-enabled education finance and business processing solutions, announced that it plans to transition outstanding U.S. Dollar (USD) LIBOR-indexed Navient-issued instruments to Secured Overnight Financing Rate (SOFR) after June 30, 2023. USD LIBOR will stop being published after June 30, 2023 and will be replaced by SOFR in many financial contracts. Navient and certain of its affiliates/subsidiaries have issued private education loans and asset-backed securities that are indexed to USD LIBOR. Starting in July, the relevant LIBOR rate included in impacted LIBOR contracts will be replaced with the applicable SOFR rate and tenor spread adjustment provided for in the Adjustable Interest Rate (LIBOR) Act of 2022 and the Federal Reserve Board’s final rule issued pursuant to the LIBOR Act. Navient has notified its customers whose education loans are impacted by this change. Information for customers can be found by visiting Navient.com/SOFR. In addition, Navient has notified holders of impacted asset-backed securities. Information for investors can be found at Navient.com/ABS. About NavientNavient (Nasdaq: NAVI) provides technology-enabled education finance and business processing solutions that simplify complex programs and help millions of people achieve success. Our customer-focused, data-driven services deliver exceptional results for clients in education, healthcare and government. Learn more at Navient.com. Contact:Media: Paul Hartwick, 302-283-4026, paul.hartwick@navient.comInvestors: Jen Earyes, 703-984-6801, jen.earyes@navient.com
