Form 8-K SLM Student Loan Trust For: Jul 29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

 

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date earliest event reported):  July 29, 2021

(Exact name of issuer as specified in its charter)

SLM STUDENT LOAN TRUST 2003-5

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c/o Deutsche Bank Trust Company Americas

60 Wall Street, 60^th Floor

Mail Stop NYC60-2606

New York, New York 10005

(Address of registrant’s principal executive offices)

 

Registrant’s telephone number including area code:  (703) 984-6890

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 (see General Instruction A.2. below);

 

 

 

 

 

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   ☐

 

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.  ☐

 

Securities registered pursuant to Section 12(b) of the Act:

 

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For the auctions of the classes of Notes set forth in the Event Notice attached hereto as Exhibit 99.1, an affiliate of Navient Funding, LLC intends to submit buy bids for all outstanding Notes of such classes that it does not currently hold at the rates (based one-month LIBOR) set forth in the Event Notice attached hereto as Exhibit 99.1.  Navient Funding, LLC’s affiliate plans to submit Hold Orders for the Notes of such classes that it currently holds. For more information, review the Event Notice attached hereto as Exhibit 99.1.

 

(a)

Not applicable

 

(b)

Not applicable

 

(c)

Not applicable

 

(d)

Exhibits

 

99.1

Event Notice

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Trust has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

SLM STUDENT LOAN TRUST 2003-5

Form 8-K

CURRENT REPORT

 

INDEX TO EXHIBITS

 

Event Notice

Dated July 29, 2021

The table below is for auctions occurring during the period from August 1, 2021 to August 15, 2021 (the “Auction Coverage Period”) and sets forth the details of the class or classes of Notes on which an affiliate of the Depositor will bid at auction (the “Subject Notes”), the auction date for each such class of Notes, the rate at which such affiliate will bid at auction on the applicable auction date and the current principal amount of Subject Notes held by such affiliate of the Depositor acquired as a result of successful bids at prior auctions.  The affiliate of the Depositor intends to submit bids for the full principal amount of each class of Notes that it does not currently hold.  For any Notes currently held by the affiliate of the Depositor, such affiliate intends to submit a Hold Order (which may be in the form of a deemed Hold Order) for all Notes it currently holds.

 

Capitalized terms used herein and not otherwise defined have the meanings ascribed to such terms in the Issuer’s indenture, dated as of May 1, 2003.

 

The information contained in this Event Notice has been submitted by the Depositor to report certain events and future plans of an affiliate of the Depositor with respect to the Subject Notes during the Auction Coverage Period. Nothing contained in this Event Notice is, or should be construed as, a representation by the Depositor that the information included in this Event Notice constitutes all of the information that may be material to a decision to invest in, hold or dispose of any of the securities listed above, or any other securities of the Issuer.

 

Commencing on August 15, 2018, the Issuer began filing notices of its intention to submit buy bids for each class of Notes of the Issuer and related information on a bi-monthly basis, rather than immediately preceding each applicable auction date.  For any auction of the Subject Notes that has occurred or will occur prior to the Auction Coverage Period in which an affiliate of the Depositor intended to bid, please refer to the applicable Forms 8-K filed by the Issuer prior to the Event Notice Date.  For any auction of the Subject Notes that will occur subsequent to the Auction Coverage Period in which an affiliate of the Depositor may bid, please refer to the applicable Form 8-K that may be filed by the Depositor subsequent to the Event Notice Date.

 

For additional information, contact:

Scott Booher

Navient Solutions, LLC

Vice President, Corporate Finance

2001 Edmund Halley Dr.

Reston, VA 20191 Phone: 703-984-6890