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An affiliate of Navient Funding, LLC, part of the $4.6 billion market cap student loan services provider, has outlined its intended actions for upcoming auctions of SLM Student Loan Trust 2006-7 notes, according to a press release statement included in a filing with the Securities and Exchange Commission. According to InvestingPro analysis, Navient maintains a "GOOD" financial health rating, supported by strong profitability metrics and robust free cash flow generation.
For the auction scheduled on October 15, 2025, for the Class A-6B Notes, the affiliate plans to submit a Hold Order for all Class A-6B Notes it currently possesses. The filing states that the affiliate holds all of the issued and outstanding Class A-6B Notes.
For the auction of Class A-6C Notes set for October 17, 2025, the affiliate intends to submit buy bids for all outstanding Class A-6C Notes it does not already hold. These buy bids will be at a rate equal to the 30-day Average Secured Overnight Financing Rate (SOFR) plus 0.11448% and an additional 1.50% per annum. The affiliate also plans to submit a Hold Order for any Class A-6C Notes it currently owns.
The auctions pertain to asset-backed securities tied to student loans. SLM Student Loan Trust 2006-7 is administered by Navient Solutions, LLC.
The information is based on a press release statement contained in a SEC filing made Friday. No trading symbol or exchange was listed for these securities in the filing.
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