SLM to redeem $200 million 5 1/8% senior notes due 2022 via new notes

By Wendy Van Sickle

Columbus, Ohio, Nov. 1 – SLM Corp. plans to redeem in full its $200 million of 5 1/8% senior notes due April 5, 2022 with proceeds of its issuance of $500 million of 3 1/8% five-year notes, according to an 8-K filed with the Securities and Exchange Commission.

The 2022 notes will be redeemed at a make-whole amount plus accrued interest. The new issuance settled Monday.

SLM is a Newark, Del.-based banking company.

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