By Sheri Kasprzak
New York, Jan. 27 - The Higher Education Loan Authority of the State of Missouri sold Tuesday $761.4 million in series 2010-1 student loan asset-backed Libor floating-rate notes, according to a term sheet. The offering was downsized from the planned $1,078,423,000.
The notes (/AAA/AAA) were sold through Bank of America Merrill Lynch and Morgan Stanley & Co. Inc.
The bonds are due Nov. 26, 2032, and priced at par with a coupon of Libor plus 95 bps.
Proceeds will be used to fund student loans throughout the state.
| Issuer: | Higher Education Loan Authority of the State of Missouri
|
| Issue: | Series 2010-1 student loan asset-backed Libor floating-rate notes
|
| Amount: | $761.4 million
|
| Maturity: | Nov. 26, 2032
|
| Coupon: | Libor plus 95 bps
|
| Price: | Par
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch and Morgan Stanley & Co. Inc.
|
| Ratings: | Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | Jan. 26
|
| Settlement date: | Jan. 28
|
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