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Jun 10, 2019

Nelnet, Inc. Announces The Commencement Of Consent Solicitations For Certain Of Its Student Loan Securitization Issuers

LINCOLN, Neb., June 10, 2019 /PRNewswire/ -- Nelnet, Inc. ("Nelnet") (NYSE: NNI) today announced that certain of its student loan securitization issuers have commenced solicitations of consents (the "Consent Solicitations") from holders of their notes to amend the corresponding indenture to permit (i) Nelnet or one of its affiliates to purchase the Federal Family Education Loan Program loans securing such notes and (ii) the related issuers to redeem their notes on the following corresponding distribution dates.  The complete terms and conditions of the Consent Solicitations are as set forth in the corresponding issuer's consent solicitation package to be distributed to holders of such issuer's notes for their consideration.  The issuers participating in the Consent Solicitations are:  Nelnet Student Loan Trust 2010‑1; Nelnet Student Loan Trust 2010‑2; Nelnet Student Loan Trust 2010‑3; Nelnet Student Loan Trust 2010‑4; Nelnet Student Loan Trust 2011‑1; and Bank of America Student Loan Trust 2010‑1.

Copies of the Consent Solicitations may be obtained by holders of the affected notes from the corresponding trustee or at the following link: https://my.dealvector.com/vote/Nelnet-2019-Consents where documents may be accessed and filled out online.  BofA Securities, LLC is transaction manager for the Consent Solicitations.  Questions regarding the Consent Solicitations may be directed to John A. Semrai, BofA Securities, LLC, at (646) 855‑8086.

None of Nelnet, the issuers, the corresponding trustees, the transaction manager or any of their respective affiliates makes any recommendation as to whether holders of any notes should deliver their consent pursuant to the Consent Solicitations, and no one has been authorized by any of them to make such a recommendation.  Each holder of notes must make its own decision as to whether to give its consent.

THIS NEWS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE A SOLICITATION OF CONSENTS.

THE CONSENT SOLICITATIONS ARE BEING MADE ONLY PURSUANT TO THE CONSENT SOLICITATION PACKAGES THAT THE CORRESPONDING TRUSTEES WILL DISTRIBUTE TO HOLDERS OF THE AFFECTED NOTES.  HOLDERS OF SUCH NOTES SHOULD CAREFULLY READ THEIR CONSENT SOLICITATION PACKAGES PRIOR TO MAKING ANY DECISION WITH RESPECT TO THE CONSENT SOLICITATIONS, BECAUSE SUCH CONSENT SOLICITATION PACKAGES CONTAIN IMPORTANT INFORMATION, INCLUDING THE VARIOUS TERMS OF, AND CONDITIONS TO, THE CONSENT SOLICITATIONS.

(code #: nnig)

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SOURCE Nelnet, Inc.

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