Connecticut Student Loan Foundation purchases $63.35 million of bonds

By Marisa Wong

Madison, Wis., June 10 - Connecticut Student Loan Foundation said it accepted for purchase all $63.35 million of student loan revenue bonds tendered in an offer that began on May 11.

The offer covered series 2004A, 2006A and 2007A senior bonds with offer prices not exceeding $960 per $1,000 principal amount and series 2004B, 2006B and 2007B-2 subordinate bonds.

The issuer purchased the following bonds:

• $10.25 million of series 2004A-4 senior bonds;

• $9 million of series 2004A-5 senior bonds;

• $6.5 million of series 2004A-6 senior bonds;

• $600,000 of series 2004A-7 senior bonds;

• $5 million of series 2007A-1 senior bonds; and

• $32 million of series 2007B-2 subordinate bonds.

Following the purchase of the tendered bonds, $637.6 million principal amount of the student loan revenue bonds remained outstanding.

The Rocky Hill, Conn.-based foundation administers student loans within the Federal Family Education Loan Program.

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