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Stock Market & Financial Investment News

News Breaks
August 8, 2014
09:06 EDTSLM, NAVISallie Mae sells $820M of Smart Option Student Loans to Navient
Sallie Mae, formally known as SLM (SLM) announced the completion of the company’s first asset-backed securitization as a standalone consumer banking business and the definitive agreement for its first loan sale. The off-balance sheet securitization consisted of approximately $380M of Smart Option Student Loans. All securities, including the entire residual interest in the loans, were privately placed with a single, third-party investment manager. The company has also signed a definitive agreement to sell approximately $820M of Smart Option Student Loans to Navient (NAVI). The loan sale is expected to close in August.
News For SLM;NAVI From The Last 14 Days
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February 25, 2015
09:03 EDTNAVINavient acquires asset recovery firm Gila
Navient announced that it has acquired Gila, an Austin, Texas-based asset recovery and business process outsourcing firm focused on the state and local government market, serving more than 600 clients in 39 states. Commonly known as Municipal Services Bureau, or MSB, the firm provides receivables management services and account processing solutions for state governments, court systems and municipalities. The firm is expected to generate approximately $70M in revenue in 2015.
February 23, 2015
07:46 EDTNAVIJPMorgan to hold a conference
Global High Yield & Leveraged Finance Conference is being held in Miami Beach, FL on February 23-25 with webcasted company presentations to begin on February 23 at 8:20 am; not all company presentations may be webcasted. Webcast Link
February 17, 2015
13:18 EDTSLMOmega Advisors gives quarterly update on stakes
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