North Carolina Education Assistance to price $309.86 million bonds

By Cristal Cody

Tupelo, Miss., Oct. 27 - The North Carolina State Education Assistance Authority intends to price $309.855 million in two tranches of student loan revenue and refunding bonds, according to a preliminary official statement released Monday.

The series 2008-2 bonds may price with a weekly interest rate or a term rate.

The $150 million tranche A1 bonds are due in 2036. The $159.855 million tranche A2 bonds are due in 2035.

RBC Capital Markets will manage the negotiated sale.

The proceeds will be used to finance student loans, refund outstanding bonds and fund deposits to the debt service reserve, department reserve and operating funds.

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