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SECURITIES AND EXCHANGE COMMISSION |
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Washington, D.C. 20549 |
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SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
Navient Corporation
(Name of Issuer)
Common Stock, par value $0.01 per share
(Title of Class of Securities)
63938C108
(CUSIP Number)
Canyon Partners, LLC
2000 Avenue of the Stars, 11th Floor
Los Angeles, CA 90067
(310) 272- 1000
Attention: Jonathan M. Kaplan
with a copy to:
Alan J. Sinsheimer
C. Andrew Gerlach
Sullivan & Cromwell LLP
125 Broad Street
New York, New York 10004
(212) 558-4000
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
February 20, 2019
(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box. x
(Page 1 of 6 Pages)
* The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
CUSIP No. 63938C108 |
SCHEDULE 13D/A |
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Name of Reporting Person | |||||
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Check the Appropriate Box if a Member of a Group | |||||
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(a) |
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(b) |
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3 |
SEC Use Only | |||||
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Source of Funds | |||||
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Check Box if Disclosure of Legal Proceeding Is Required Pursuant to Items 2(d) or 2(e) o | |||||
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Citizenship or Place of Organization | |||||
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Number of |
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Sole Voting Power | |||||
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8 |
Shared Voting Power | ||||||
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9 |
Sole Dispositive Power | ||||||
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10 |
Shared Dispositive Power | ||||||
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11 |
Aggregate Amount Beneficially Owned by Each Person | |||||
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12 |
Check if the Aggregate Amount in Row (11) Excludes Certain Shares o | |||||
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Percent of Class Represented by Amount in Row (11) | |||||
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Type of Reporting Person | |||||
CUSIP No. 63938C108 |
SCHEDULE 13D/A |
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Name of Reporting Person | |||||
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Check the Appropriate Box if a Member of a Group | |||||
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(a) |
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(b) |
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3 |
SEC Use Only | |||||
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4 |
Source of Funds | |||||
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Check Box if Disclosure of Legal Proceeding Is Required Pursuant to Items 2(d) or 2(e) o | |||||
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6 |
Citizenship or Place of Organization | |||||
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Number of |
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Sole Voting Power | |||||
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Shared Voting Power | ||||||
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Sole Dispositive Power | ||||||
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10 |
Shared Dispositive Power | ||||||
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11 |
Aggregate Amount Beneficially Owned by Each Person | |||||
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12 |
Check if the Aggregate Amount in Row (11) Excludes Certain Shares o | |||||
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13 |
Percent of Class Represented by Amount in Row (11) | |||||
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Type of Reporting Person | |||||
CUSIP No. 63938C108 |
SCHEDULE 13D/A |
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1 |
Name of Reporting Person | |||||
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2 |
Check the Appropriate Box if a Member of a Group | |||||
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(a) |
o | ||||
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(b) |
o | ||||
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3 |
SEC Use Only | |||||
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4 |
Source of Funds | |||||
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5 |
Check Box if Disclosure of Legal Proceeding Is Required Pursuant to Items 2(d) or 2(e) o | |||||
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6 |
Citizenship or Place of Organization | |||||
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Number of |
7 |
Sole Voting Power | |||||
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8 |
Shared Voting Power | ||||||
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9 |
Sole Dispositive Power | ||||||
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10 |
Shared Dispositive Power | ||||||
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11 |
Aggregate Amount Beneficially Owned by Each Person | |||||
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12 |
Check if the Aggregate Amount in Row (11) Excludes Certain Shares o | |||||
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13 |
Percent of Class Represented by Amount in Row (11) | |||||
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Type of Reporting Person | |||||
CUSIP No. 63938C108 |
SCHEDULE 13D/A |
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The following constitutes Amendment No. 3 (Amendment No. 3) to the Schedule 13D filed by the undersigned on April 4, 2018, as amended prior to the date of Amendment No. 3 (as so amended, the Original Schedule 13D). This Amendment No. 3 amends the Original Schedule 13D as specifically set forth herein (as so amended, the Schedule 13D).
Item 4. Purpose of the Transaction
Item 4 of the Original Schedule 13D is hereby amended to add the following:
On February 20, 2019, Canyon Capital Advisors LLC (Canyon) issued a press release announcing that it has withdrawn its February 15, 2019 expression of interest to acquire the Issuer, that it does not intend to participate in any acquisition process at this time and that it plans to propose a minority slate of experienced and independent candidates for election at the Issuers upcoming annual meeting.
Item 5. Interest in Securities of the Issuer
Item 5(c) of the Original Schedule 13D is hereby amended and restated as follows:
(c) There have been no transactions by the Reporting Persons in the shares of Common Stock since the most recent filing of Schedule 13D by the Reporting Persons on February 19, 2019.
CUSIP No. 63938C108 |
SCHEDULE 13D/A |
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SIGNATURES
After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.
Date: February 20, 2019
CANYON CAPITAL ADVISORS LLC |
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/s/ Doug Anderson |
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Name: Doug Anderson |
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Title: Chief Compliance Officer |
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/s/ Mitchell R. Julis |
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MITCHELL R. JULIS |
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/s/ Joshua S. Friedman |
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JOSHUA S. FRIEDMAN |
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