Missouri Higher Education Loan Authority accepts $81.2 million of auction-rate bonds for purchase

By Jennifer Chiou

New York, Oct. 25 - The Higher Education Loan Authority of the State of Missouri said it has accepted for purchase $81.2 million of student loan auction-rate bonds, including its 1996I, 2004B and 2004C tax-exempt senior bonds, several series of its taxable senior bonds, its 1998X tax-exempt subordinated bonds and its 2001F, 2002M and 2002N taxable subordinated bonds.

The overall purchase price was $76,202,150 plus accrued interest. Tendered bonds will be canceled on the settlement date, Oct. 27.

The cash offer began on Sept. 30 and ended at 5 p.m. ET on Oct. 20.

D.F. King & Co., Inc. was the information agent and tender agent. Wells Fargo Bank, NA is the trustee.

The authority is based in Chesterfield, Mo. Its mission is to eliminate barriers for students so they can access higher education.

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