Alaska Student Loan formally begins note consent solicitation process

Chicago, May 6 – The Alaska Student Loan Corp. commenced a consent solicitation for its $30,914,038 outstanding of its $144.73 million original principal amount taxable education loan-backed notes, series 2013A (Cusip: 011855CM3), according to a press release.

The issuer is seeking to amend the indenture governing the Libor-indexed notes to allow for the early redemption of the notes at par plus interest to the redemption date.

The company is exploring the feasibility of this option due to the uncertainty around the discontinuance of Libor, the corporation’s desire to reduce or eliminate certain costs associated with owning the financed eligible loans and other business considerations.

To amend the indenture, the company must receive consents from noteholders representing a majority of the notes.

Noteholders will receive a fee equal to 0.1% of the notes for which they submit consents should the conditions of the consent solicitation be satisfied.

The solicitation period ends at 5 p.m. ET on May 13.

D.F. King & Co., Inc. is working as the information agent (877 297-1746, 212 269-5550, alaska@dfking.com).

The solicitation agent for the notes is RBC Capital Markets (877 381-2099, 212 618-7843, liability.management@rbccm.com).

Noteholders will receive a fee equal to 0.1% of the notes for which they submit consents should the conditions of the consent solicitation be satisfied.

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