South Texas Higher Education offers to purchase student loan bonds

By Ashley Montgomery

Kansas City, Kan., Dec. 23 - The South Texas Higher Education Authority, Inc., will continue its tender offer, originally announced Dec. 1, for outstanding senior class student loan revenue bonds dated March 1, 2007, according to a notice.

The authority said 56.16% in principal amount of the bondholders have accepted the offer.

The affected bonds include the following:

$37.85 million series 2007A-1 senior taxable bonds due Dec. 1, 2041;

$55.25 million series 2007A-2 senior taxable bonds due Dec. 1, 2041;

$63.95 million series 2007A-4 senior tax-exempt bonds due Dec. 1, 2027;

$63.95 million series 2007A-5 senior tax-exempt bonds due Dec. 1, 2032; and

$63.95 million series 2007A-6 senior tax-exempt bonds due Dec. 1, 2041.

According to the authority's Dec. 1 announcement, the bonds will be purchased at 95.5 plus accrued interest.

The offer expires at noon ET on Dec. 29.

D.F. King & Co., Inc. is the agent.

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