New Hampshire Higher Education Loan to sell $522.64 million floaters

By Sheri Kasprzak

New York, Aug. 2 - The New Hampshire Higher Education Loan Corp. is expected to price $522.635 million of series 2011-1 taxable student loan-backed Libor floating-rate notes, according to a preliminary official statement.

The offering includes $213 million of series 2011-1-A1 notes, $127 million of series 2011-1-A2 notes and $182.635 million of series 2011-1-A3 notes.

The notes (/AAA/AAA) will be sold on a negotiated basis with RBC Capital Markets LLC and UBS Investment Bank as the joint lead managers.

The 2011-1-A1 notes are due Oct. 25, 2021, and the 2011-1-A2 notes are due Oct. 25, 2025. The 2011-1-A3 notes are due Oct. 25, 2037.

Proceeds will be used to finance student loans, as well as to redeem existing notes.

Based in Nashua, N.H., the corporation provides and services student loans.

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