Navient Co. SR NT 6% 121543 (NASDAQ:JSM) is a series of senior unsecured notes issued by Navient Corporation. The notes carry a fixed annual interest rate of 6.00% and mature on December 15, 2043. As unsecured obligations, they rank pari passu with all of Navient’s other unsubordinated debt and are structurally subordinated to any secured borrowings.
Interest on these notes is payable semi-annually on June 15 and December 15 of each year. Beginning December 15, 2023, Navient has the option to redeem the notes, in whole or in part, at a specified redemption price plus accrued interest, subject to the terms set forth in the governing indenture under which the notes were issued and trade under the ticker symbol JSM.
Navient Corporation, the issuer behind this debt issue, provides asset management and business processing solutions to education loan portfolios in the United States. Since its 2014 spin-off from Sallie Mae, Navient has specialized in servicing federal and private student loans and supports institutional clients through loan origination, servicing, and collection activities. The company also offers a suite of online tools and customer service resources aimed at helping borrowers manage their education debt.
Headquartered in Wilmington, Delaware, Navient has navigated a complex regulatory environment and shifting market conditions by emphasizing compliance, operational efficiency, and digital innovation. Its leadership team has focused on maintaining credit quality and managing liquidity to meet long-term obligations such as the 6% senior notes due 2043.
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