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NorthStar, Minn., plans $686.6 million student loan asset-backed notes
By Sheri Kasprzak
New York, Oct. 10 - The NorthStar Student Loan Trust I of Minnesota is expected to price $686.6 million of series 2012 student loan asset-backed notes, according to a preliminary official statement. The notes will be sponsored through the NorthStar Education Finance Inc., and NorthStar Capital Markets Services Inc. is the administrator and the master servicer.
The deal includes $674.6 million of senior class A notes, which are due Dec. 26, 2031, and $12 million of subordinate class B notes, which are due Jan. 25, 2032.
The notes will be sold through RBC Capital Markets LLC.
Proceeds will be used to fund the acquisition of student loans.
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