Alaska Student Loan announces success of consent bid for 2013A notes

By Wendy Van Sickle

Columbus, Ohio, May 14 – The Alaska Student Loan Corp. said it received consents from holders of $143.03 million, or 98.83%, of its $144.73 million taxable education loan-backed notes, series 2013A (Cusip: 011855CM3), according to a press release.

The consent solicitation expired at 5 p.m. ET on May 13.

Having received the consents of holders of a majority of the notes, the issuer will proceed to amend the indenture to permit the early redemption of the notes at par plus interest to the redemption date.

The issuer expects to fully redeem the notes and pay the applicable consent fee of 0.2% on June 25.

The company previously said it was exploring the feasibility of the redemption of the Libor-indexed notes 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.

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

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

The consent fee will be paid only if the consent solicitation is consummated.

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