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Published on 9/8/2009 in the Prospect News Municipals Daily.

New Mexico Educational Assistance to price $299.34 million in bonds

By Sheri Kasprzak

New York, Sept. 8 - The New Mexico Educational Assistance Foundation is expected to price $299.335 million in series 2009 education loan bonds on Thursday, according to a sales calendar.

The deal includes $42.5 million in series 2009A weekly rate senior bonds, $197.76 million in series 2009B fixed-rate senior bonds and $59.075 million in series 2009C fixed-rate senior bonds.

The bonds (Aaa/VMIG1//AAA/F1+) will be sold on a negotiated basis with RBC Capital Markets Corp. and Merrill Lynch & Co. Inc. as the senior managers.

The series 2009A bonds are due Nov. 1, 2028 and the 2009B bonds are due 2010 to 2020. The series 2009C bonds are due 2010 and 2014 to 2015.

Proceeds will be used to refund several outstanding bonds.


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