By Sheri Kasprzak
New York, Aug. 18 - The New Hampshire Higher Education Loan Corp. priced $522.635 million of series 2011-1 taxable student loan-backed Libor floating-rate notes, according to a pricing sheet.
The offering included $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 2011-1-A1 notes are due Oct. 25, 2021 and bear interest at three-month Libor priced at 99.617. The 2011-1-A2 notes are due Oct. 25, 2025 and bear interest at three-month Libor priced at 97.492, and the 2011-1-A3 notes are due Oct. 25, 2037 and bear interest at three-month Libor priced at 92.242.
The bonds (AAA/AAA) were sold through senior manager RBC Capital Markets LLC and UBS Investment Bank.
Proceeds will be used to finance student loans, as well as to redeem existing notes.
| Issuer: | New Hampshire Higher Education Loan Corp.
|
| Issue: | Series 2011-1 taxable loan-backed Libor floating-rate notes
|
| Amount: | $522.635 million
|
| Type: | Negotiated
|
| Underwriters: | RBC Capital Markets LLC and UBS Investment Bank (lead)
|
| Ratings: | Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | Aug. 18
|
| Settlement date: | Aug. 24
|
|
|
| $213 million series 2011-1-A1 notes
|
| Maturity | Type | Coupon | Price
|
| Oct. 25, 2021 | Term | Libor | 99.617
|
|
|
| $127 million series 2011-1-A2 notes
|
| Maturity | Type | Coupon | Price
|
| Oct. 25, 2025 | Term | Libor | 97.492
|
|
|
| $182.635 million series 2011-1-A3 notes
|
| Maturity | Type | Coupon | Price
|
| Oct. 25, 2037 | Term | Libor | 92.242
|
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