Iowa Student Loan updates on consent solicitation for three series

Chicago, June 1 – The Iowa Student Loan Liquidity Corp. announced the results of its three separate consent solicitation for three series of notes, according to a press release.

The corporation, according to the tabulation agent, received the necessary consents for all three series of notes prior to the expiration of the solicitation period at 5 p.m. ET on May 27.

The solicitations involved two tranches from the series 2005-1 notes: the $75,305,760 class A-3 notes (Cusip: 462592AC0) and the $12,475,354 class B notes (Cusip: 462592AD8).

The solicitations also covered the $97,516,328 series 2011-1 floating-rate notes (Cusip: 462590HW3).

Finally, consents were being sought from holders of two tranches from the series 2012-1 floating-rate notes: the $143,268,732 class A notes (Cusip: 462590JS0) and the $10 million class B notes (Cusip: 462590JT8).

ISL was seeking consents from holders of a majority of the outstanding notes for each series to amend the indentures governing the notes.

The amendments would permit the early redemption of each series of notes.

The redemption, due to sufficient consents being received, is planned for June 4.

The record date is May 18.

D.F. King & Co., Inc. (212 269-5550, 800 331-7024 or iowa@dfking.com) is the tabulation agent.

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

Based in West Des Moines, Iowa, the corporation provides student loans for qualified students in Iowa.

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