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NNI > SEC Filings for NNI > Form 8-K on 2-Apr-2013All Recent SEC Filings

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Form 8-K for NELNET INC


2-Apr-2013

Entry into a Material Definitive Agreement


Item 1.01 Entry into a Material Definitive Agreement.
On March 28, 2013, Nelnet, Inc. (the "Company") entered into Amendment No. 2 (the "Amendment") to the Credit Agreement dated as of February 17, 2012 (the "Credit Agreement") for the Company's unsecured line of credit with U.S. Bank National Association, as agent for the lenders, and the lender parties thereto. The Credit Agreement was previously reported under Item 1.01 of a Current Report on Form 8-K filed by the Company on February 24, 2012, which is incorporated by reference herein.
Under the terms of the Amendment, the Company's unsecured line of credit under the Credit Agreement was increased from $250 million to $275 million, and the maturity date of the Credit Agreement was extended from February 17, 2016 to March 28, 2018. In addition, Bank of Montreal, Chicago Branch entered into the Amendment to become a new additional lender party under the Credit Agreement. As of March 28, 2013, the $275 million unsecured line of credit had an outstanding balance of $115 million and $160 million available for future use. Bank of Montreal, Chicago Branch and certain of its affiliates may have performed and/or may in the future perform various commercial banking, lending, investment banking, financial advisory, trustee or other services for the Company and its subsidiaries, for which they have received and/or will receive customary fees and reimbursement of expenses.
The description above is a summary of the Amendment and is qualified in its entirety by the complete text of the Amendment, 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 $275 million unsecured line of credit 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

Amendment No. 2 dated as of March 28, 2013 to Credit Agreement dated as of February 17, 2012, by and among Nelnet, Inc., U.S. Bank National Association, as Agent for the Lenders, and various lender
10.1 parties thereto. Amendment No. 1 dated as of March 16, 2012 to Credit Agreement dated as of February 17, 2012, by and among Nelnet, Inc., U.S. Bank National Association, as Agent for the Lenders, and various lender
10.2* parties thereto.

*Filed herewith for purposes of providing a complete set of all amendment documents to the Credit Agreement. The original Credit Agreement has been previously filed as an exhibit to the Company's Current Report on Form 8-K filed on February 24, 2012.


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