MBA Community seeks consents to make SOFR base rate for two notes

By Marisa Wong

Los Angeles, March 22 – MBA Community Loans plc announced consent solicitations and proposals to holders of its outstanding $1 million series 10 notes due 2030 (ISIN: XS0997559975) and $3,712,087 series 118 notes due 2029 (ISIN: XS1539589801), according to notices.

The issuer is proposing to replace Libor with CME term SOFR as the base rate applicable to the notes.

No consent fee is being offered.

The consent solicitations expire at noon ET on April 5.

Societe Generale Luxembourg (lux.standalone@sgss.socgen.com) is the paying agent.

The Dublin-based issuer invests in student loan assets.

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