Higher Education Loan Authority of Missouri plans $579 million sale of Libor notes

By Sheri Kasprzak

New York, May 17 - The Higher Education Loan Authority of the State of Missouri is set to price $579 million of series 2011-1 student loan asset-backed Libor floating-rate notes, said a preliminary official statement.

The notes (AAA/AAA) will be sold on a negotiated basis with Morgan Stanley & Co. Inc. as the lead manager.

The maturity date has not been set. Pricing is expected in June.

Proceeds will be used to acquire student loans.

Based in Chesterfield, Mo., the authority provides and services student loans.

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