By Sheri Kasprzak
New York, Dec. 15 - The New Mexico Educational Assistance Foundation, doing business as New Mexico Student Loans, priced $167.3 million of series 2010 education loan bonds, according to a pricing sheet.
The bonds (/AAA/AAA) were sold on a negotiated basis with Bank of America Merrill Lynch and RBC Capital Markets Corp. as the senior managers.
The deal included $48.4 million of series 2010-2-A1 bonds, $53.9 million of series 2010-2-A2 bonds and $65 million of series 2010-2-A3 bonds. All of the bonds are Libor floating-rate bonds.
The 2010-2-A1 bonds are due Dec. 1, 2020, and the 2010-2-A2 bonds are due Dec. 1, 2038. The 2010-2-A3 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.
| Issuer: | New Mexico Educational Assistance Foundation/New Mexico Student Loans
|
| Issue: | Series 2010 education loan bonds
|
| Amount: | $167.3 million
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch and RBC Capital Markets Corp. (lead)
|
| Ratings: | Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | Dec. 10
|
| Settlement date: | Dec. 15
|
|
|
| $48.4 million series 2010-2-A1
|
| Maturity | Type | Coupon | Price
|
| Dec. 1, 2020 | Term | Libor | 100
|
|
|
| $53.9 million series 2010-2-A2
|
| Maturity | Type | Coupon | Price
|
| Dec. 1, 2038 | Term | Libor | 100
|
|
|
| $65 million series 2010-2-A3
|
| Maturity | Type | Coupon | Price
|
| Dec. 1, 2038 | Term | Libor | 100
|
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