SLM Student Loan Trust 2006-5 has filed a preliminary free-writing prospectus with the SEC on October 14, 2026, regarding the remarketing of its Class A-6B and Class A-6C Reset Rate Notes. The remarketing is scheduled to occur on October 26, 2026, subject to the receipt of timely Hold Notices from existing noteholders. The notes, originally issued on June 21, 2006, are being offered for up to $161,019,025 in aggregate principal amount.
Under the proposed terms, the Class A-6B and Class A-6C notes would reset to a floating interest rate of the SOFR Rate plus 0.75% per annum. The interest rate will be calculated based on a 90-day Average SOFR plus a tenor spread adjustment of 0.26161% per annum. The notes are projected to have a weighted average remaining life of approximately 0.25 years to the next reset date of January 25, 2027.
Current outstanding principal balances for both classes are $80,509,512.41. Existing noteholders wishing to retain their securities must submit a Hold Notice to the remarketing agent, Bank of America Securities, prior to 12:00 p.m. (noon), New York City time, on October 21, 2026. Failure to submit a Hold Notice will result in the notes being deemed tendered for remarketing. The notes are listed on the Luxembourg Stock Exchange and are not obligations of Navient Corporation or its affiliates.
