South Carolina Education Assistance rescinds full redemptions of 12 series of loan revenue bonds

By Marisa Wong

Madison, Wis., Oct. 5 - The South Carolina State Education Assistance Authority has rescinded the planned full redemptions of 12 series of its education loan revenue bonds.

The bonds were originally to be redeemed at par plus accrued interest to the redemption date.

Affected are the following bonds:

• $21.5 million of 2002A-1 bonds due March 1, 2022, to have been redeemed Oct. 8;

• $50.5 million of 2002A-2 bonds due March 1, 2022, to have been redeemed Oct. 13;

• $7 million of 2002B bonds due March 1, 2022, to have been redeemed Oct. 13;

• $37 million of 2003A-2 bonds due March 1, 2023, to have been redeemed Oct. 19;

• $10 million of 2003B bonds due March 1, 2023, to have been redeemed Oct. 19;

• $55.7 million of 2004A-1 bonds due March 1, 2024, to have been redeemed Oct. 27;

• $58 million of 2004A-3 bonds due March 1, 2024, to have been redeemed Oct. 12;

• $54.7 million of 2006A-1 bonds due Sept. 1, 2026, to have been redeemed Oct. 7;

• $54 million of 2006A-2 bonds due Sept. 1, 2026, to have been redeemed Oct. 14;

• $54 million of 2006A-3 bonds due Sept. 1, 2026, to have been redeemed Oct. 21;

• $10 million of 2006B bonds due Sept. 1, 2026, to have been redeemed Oct. 14; and

• $65.8 million of 2007A-2 bonds due Sept. 1, 2027, to have been redeemed Oct. 26.

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