Iowa Student Loan Liquidity to price $231.86 million revenue bonds

By Sheri Kasprzak

New York, Nov. 9 - The Iowa Student Loan Liquidity Corp. is expected to sell $231.86 million in series 2009 student loan revenue bonds, according to a preliminary official statement.

The deal includes $166.775 million in series 2009-1 bonds, $23.15 million in series 2009-2 and $41.935 million in series 2009-3 bonds.

The bonds (A1/A/) will be sold on a negotiated basis with Merrill Lynch & Co. as the senior manager. The co-manager is Morgan Stanley & Co. Inc.

The 2009-1 bonds are due 2010 to 2018 with term bonds due 2022, 2027 and 2031. The 2009-2 bonds are due 2025 and the 2009-3 bonds are due 2018, 2019 and 2024.

Proceeds will be used to fund student loans.

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