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New Mexico Educational Assistance Foundation intends to sell $383 million education loan bonds
By Sheri Kasprzak
New York, Aug. 13 - The New Mexico Educational Assistance Foundation is set to price $383 million in series 2010-1A education loan bonds, according to a preliminary official statement.
The offering includes $155 million in series 2010-1A-1 tax-exempt non-AMT fixed-rate bonds, $140 million in series 2010-1A-2 tax-exempt non-AMT Libor floating-rate bonds and $88 million in series 2010-1A-3 tax-exempt non-AMT Libor floating-rate bonds.
The 2010-1A-1 bonds are due 2011 to 2022. The 2010-1A-2 bonds are due Dec. 1, 2028. The 2010-1A-3 bonds are due Dec. 1, 2038.
The bonds (Aaa/AAA/) will be sold on a negotiated basis with Bank of America Merrill Lynch and RBC Capital Markets Corp.
Proceeds will be used to refund existing debt.
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