New Mexico Educational Assistance to price $168.9 million loan bonds

By Sheri Kasprzak

New York, Nov. 30 - The New Mexico Educational Assistance Foundation, doing business as New Mexico Student Loans, plans to price $168.9 million of series 2010 education loan bonds, according to a preliminary official statement.

The deal includes $81.2 million of series 2010-2-A1 tax-exempt non-AMT Libor floating-rate bonds and $87.7 million of series 2010-2-A2 tax-exempt non-AMT Libor floating-rate bonds.

The bonds (/AAA/AAA) will be sold through Bank of America Merrill Lynch and RBC Capital Markets Corp.

The 2010-2-A1 bonds are due Dec. 1, 2020, and the 2010-2-A2 bonds are due Dec. 1, 2038.

Proceeds will be used to finance student loans.

Based in Albuquerque, the foundation provides student loans for New Mexico residents.

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