Brazos Higher Education to redeem 11 series of student loan bonds

By Marisa Wong

Madison, Wis., Dec. 17 - Brazos Higher Education Authority, Inc. gave notice that it will redeem its student loan revenue bonds, senior series 2001A-6, 2003A-10, 2003B-2, 2005A-1, 2005A-2, 2005A-3, 2005A-4, 2006A-15, 2006A-14, 2007A-5 and 2007A-6, in full.

The variable-rate bonds will be redeemed at par plus accrued interest to the redemption date.

To be redeemed on Dec. 21 are $47.05 million of 2007A-5 taxable bonds due June 1, 2039 and $45.9 million of 2007A-6 taxable bonds due June 1, 2039.

To be redeemed on Jan. 5 are the following bonds:

• $79 million of 2001A-6 taxable bonds due July 1, 2036;

• $43.1 million of 2003B-2 taxable bonds due Dec. 1, 2039;

• $41.1 million of 2005A-1 tax-exempt bonds due Dec. 1, 2040;

• $80.1 million of 2005A-2 tax-exempt bonds due Dec. 1, 2040;

• $60 million of 2005A-3 tax-exempt bonds due Dec. 1, 2040;

• $30 million of 2005A-4 tax-exempt bonds due Dec. 1, 2040; and

• $91.55 million of 2006A-15 taxable bonds due Dec. 1, 2042.

To be redeemed on Jan. 6 are $39 million of 2003A-10 taxable bonds due July 1, 2039, and to be redeemed on Jan. 7 are $91.55 million of 2006A-14 taxable bonds due Dec. 1, 2042.

The authority said it plans to issue new notes to raise funds for the redemptions. The redemptions are conditioned upon the sale of the new notes.

Brazos Higher Education is a Waco, Texas-based non-profit corporation that specializes in student loans.

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