Nelnet Inc. commenced a cash tender offer to purchase any and all of its outstanding 7.400% fixed-to-floating rate capital efficient notes, of which $200 million in aggregate principal is currently outstanding.
The company will pay a consideration of $800 per $1,000 principal amount of notes tendered, including $50 per $1,000 principal amount of notes tendered as the consent payment. The tender offer is scheduled to expire Feb. 17 at 11:59 p.m. ET. Tendered notes may be withdrawn at any time prior to 5:00 p.m. ET on Feb. 3.
Goldman Sachs & Co. is the deal manager for the offer and solicitation agent for the consent solicitation.