---
schema_version: "secwatch.filing_event.v1"
accession: "0001258602-26-000023"
form_type: "8-K"
ticker: "NNI"
cik: "0001258602"
company_name: "NELNET INC"
filed_at: "2026-04-02T23:59:59+00:00"
generated_at: "2026-05-15T07:48:14.933968+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Nelnet enters $435M unsecured credit line, terminates prior $495M facility

## Summary
- New $435M unsecured revolving credit facility dated March 31, 2026, maturing March 31, 2031.
- Initial outstanding balance is $0; proceeds available for general corporate purposes.
- Terminated the prior $495M unsecured credit agreement (Sept 2021) which had no outstanding balance.
- The new facility includes financial covenants: minimum net worth, EBITDA/indebtedness ratio, asset quality test.
- Guaranteed by certain subsidiaries; contains customary events of default.

## SEC filing metadata
- accession: 0001258602-26-000023
- form_type: 8-K
- ticker: NNI
- cik: 0001258602
- company_name: NELNET INC
- filed_at: 2026-04-02T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1258602/000125860226000023/0001258602-26-000023-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1258602/000125860226000023/nni-20260331.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001258602-26-000023
- JSON: https://secwatch.observer/filing/0001258602-26-000023.json
- Plain text: https://secwatch.observer/filing/0001258602-26-000023.txt

## Source-grounded claims
- claim_id: fdb87548db03ea5a19599d965c01a9fd59e5bd95
  claim: NELNET INC incurred credit facility of $435 million with U.S. Bank National Association maturing March 31, 2031.
  evidence_excerpt: On March 31, 2026, Nelnet, Inc. (the “Company”) entered into a Credit Agreement (the “Credit Agreement”) for a $435 million unsecured line of credit with U.S. Bank National Association, as Administrative Agent
  evidence_url: https://www.sec.gov/Archives/edgar/data/1258602/000125860226000023/0001258602-26-000023-index.htm
- claim_id: 5beb9f27731c1568bb4ef51cf7040e76fceac28f
  claim: NELNET INC terminated Third Amended and Restated Credit Agreement with U.S. Bank National Association, Wells Fargo Bank, National Association, Royal Bank of Canada, U.S. Bank National Association and Wells Fargo Securities, LLC valued at $495 million (effective 2026-03-31).
  evidence_excerpt: the Company terminated the Third Amended and Restated Credit Agreement dated as of September 22, 2021 (as amended, the "2021 Credit Agreement") among the Company, U.S. Bank National Association, as Administrative Agent, Wells Fargo Bank, National Association, as Syndication Agent, Royal Bank of Canada, as Documentation Agent, U.S. Bank National Association and Wells Fargo Securities, LLC, as Joint Lead Arrangers and Joint Book Runners, and various lender parties thereto.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1258602/000125860226000023/0001258602-26-000023-index.htm
- claim_id: 6475a6df10bb8733700e5d6b744b4610dcac91c6
  claim: NELNET INC entered into Credit Agreement with U.S. Bank National Association, Wells Fargo Bank, National Association, Royal Bank of Canada, Wells Fargo Securities, LLC, First National Bank of Omaha, Regions Bank valued at $435 million (effective 2026-03-31).
  evidence_excerpt: On March 31, 2026, Nelnet, Inc. (the “Company”) entered into a Credit Agreement (the “Credit Agreement”) for a $435 million unsecured line of credit with U.S. Bank National Association, as Administrative Agent (the “Administrative Agent”), Joint Lead Arranger, Joint Book Runner, and an individual lender, Wells Fargo Bank, National Association, as Syndication Agent (the “Syndication Agent”) and an individual lender, Royal Bank of Canada, as Documentation Agent and an individual lender, Wells Fargo Securities, LLC, as Joint Lead Arranger and Joint Book Runner, and First National Bank of Omaha and Regions Bank, as additional individual lenders.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1258602/000125860226000023/0001258602-26-000023-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.