Higher Education Student Assistance, N.J., to bring $450 million bonds

By Sheri Kasprzak

New York, May 28 - The New Jersey Higher Education Student Assistance Authority plans to price $450 million in series 2009A student loan revenue bonds, according to a preliminary official statement. The sale is expected to take place on Tuesday, according to a calendar of sales.

The bonds (/AA/A+) will be sold on a negotiated basis with Merrill Lynch & Co. Inc. as the senior manager.

The bonds are due 2013 to 2030.

Proceeds will be used to make student loans, as well as to make a deposit to a capitalized interest fund.

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