Bond NaviCorp 5.75% ( US78490FLS64 ) in USD
Issuer | NaviCorp | ||
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ISIN code |
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Interest rate | 5.75% per year ( payment 2 times a year) | ||
Maturity | 15/06/2029 | ||
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Minimal amount | 1 000 USD | ||
Total amount | 2 200 000 USD | ||
Cusip | 78490FLS6 | ||
Standard & Poor's ( S&P ) rating | BB- ( Non-investment grade speculative ) | ||
Moody's rating | Ba3 ( Non-investment grade speculative ) | ||
Next Coupon | 15/12/2025 ( In 138 days ) | ||
Detailed description |
Navient is a U.S.-based company that provides student loan management and servicing, primarily for federal student loans, and offers related financial services. This financial article details a specific bond issuance, identified by ISIN US78490FLS64 and CUSIP 78490FLS6, originating from Navient, an American financial services company specializing in education loan management and servicing, which evolved from its origins as Sallie Mae to become one of the largest servicers of both federal and private student loans in the United States, managing a vast portfolio that underscores its significant role within the higher education finance sector; this USD-denominated bond currently trades at 93% of its par value, offers an annual interest rate of 5.75%, features a total issue size of 2,200,000 units, is available for purchase with a minimum acquisition size of 1,000 units, matures on June 15, 2029, and provides semi-annual interest payments, as indicated by a payment frequency of 2; furthermore, its creditworthiness is assessed by leading rating agencies, with Standard & Poor's assigning a BB- rating and Moody's providing a Ba3 rating, both categorizations denoting non-investment grade or 'speculative' quality, thereby reflecting a higher degree of credit risk compared to investment-grade securities. |