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Nelnet Inc – ‘8-K’ for 12/16/19

On:  Monday, 12/16/19, at 5:07pm ET   ·   For:  12/16/19   ·   Accession #:  1258602-19-72   ·   File #:  1-31924

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  As Of               Filer                 Filing    For·On·As Docs:Size

12/16/19  Nelnet Inc                        8-K:1,2,9  12/16/19   14:1.8M

Current Report   —   Form 8-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                      HTML     34K 
 2: EX-10.1     Material Contract                                   HTML    420K 
 3: EX-10.2     Material Contract                                   HTML     70K 
12: R1          Document                                            HTML     47K 
13: XML         IDEA XML File -- Filing Summary                      XML     12K 
14: XML         XBRL Instance -- nni-20191216_htm                    XML     21K 
 9: EXCEL       IDEA Workbook of Financial Reports                  XLSX      6K 
 5: EX-101.CAL  XBRL Calculations -- nni-20191216_cal                XML      7K 
 6: EX-101.DEF  XBRL Definitions -- nni-20191216_def                 XML      9K 
 7: EX-101.LAB  XBRL Labels -- nni-20191216_lab                      XML     67K 
 8: EX-101.PRE  XBRL Presentations -- nni-20191216_pre               XML     33K 
 4: EX-101.SCH  XBRL Schema -- nni-20191216                          XSD     12K 
10: JSON        XBRL Instance as JSON Data -- MetaLinks               12±    18K 
11: ZIP         XBRL Zipped Folder -- 0001258602-19-000072-xbrl      Zip    120K 


‘8-K’   —   Current Report


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 iX:   C:  C: 
  Document  
 i 0001258602 i false00012586022019-12-162019-12-16

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
FORM  i 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
 i December 16, 2019

 i NELNET, INC.
(Exact name of registrant as specified in its charter)
 i Nebraska i 001-31924 i 84-0748903
(State or other jurisdiction of incorporation)(Commission File Number)(I.R.S. Employer Identification No.)

 i 121 South 13th Street, Suite 100
 i Lincoln, i Nebraska i 68508  
(Address of principal executive offices)(Zip Code)
Registrant's telephone number, including area code ( i 402)  i 458-2370
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 i  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 i  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 i  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
 i  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
 i Class A Common Stock, Par Value $0.01 per Share i NNI i New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company  i 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.         




Item 1.01 Entry into a Material Definitive Agreement.
On December 16, 2019, Nelnet, Inc. (the “Company”) entered into a Second Amended and Restated Credit Agreement (the “Amended and Restated Credit Agreement”) for its unsecured line of credit with U.S. Bank National Association, as agent for the lenders, and the lender parties thereto. The most recent prior amendment to the unsecured line of credit was previously reported in a Current Report on Form 8-K filed by the Company on June 28, 2018.

Under the amended terms, the following provisions of the Amended and Restated Credit Agreement were modified:

The maturity date was extended from June 22, 2023 to December 16, 2024.

The facility size increased from $382.5 million to $455.0 million. The amended terms also provide that the Company may increase the aggregate financing commitments, through the existing lenders and/or through new lenders, up to a total of $550.0 million.

The provisions for recourse indebtedness were revised to replace the $100.0 million limitation on recourse indebtedness with an amount equal to 5.0 percent of the Company’s consolidated net worth.

The provisions for permitted investments were expanded to increase the aggregate amount of permitted investments from 25.0 percent of the Company’s consolidated net worth to 40.0 percent.

The cost of funds did not change as part of the amendment. As of December 16, 2019, no amounts were outstanding on the unsecured line of credit.

The foregoing summary of the amendments to the provisions reflected in the Amended and Restated Credit Agreement does not purport to be a complete description of all of the amended provisions of the facility, and is qualified in its entirety by the complete text of the Amended and Restated Credit Agreement, a copy of which is filed with this report as Exhibit 10.1 and is incorporated by reference herein.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information related to the Amended and Restated Credit Agreement discussed under Item 1.01 above is hereby incorporated by reference into this Item 2.03.

Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are filed as part of this report:



Exhibit
No.
Description
10.1  
10.2  
104  Cover Page Interactive Data File (formatted as Inline XBRL and included as Exhibit 101).






SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: December 16, 2019
NELNET, INC.
By: /s/ JAMES D. KRUGER
Name: James D. Kruger
Title: Chief Financial Officer



Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘8-K’ Filing    Date    Other Filings
12/16/24
6/22/23
Filed on / For Period end:12/16/19
6/28/188-K
 List all Filings 


1 Subsequent Filing that References this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/25/21  Nelnet Inc.                       10-K       12/31/20  132:27M
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