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Rhode Island Student Loan accepts $115.25 million bonds in cash offer
By Marisa Wong
Madison, Wis., Aug. 31 - Rhode Island Student Loan Authority said it accepted for purchase $115.25 million of its $134.1 million of bonds due 2012, 2030, 2034, 2035 and 2037.
The accepted bonds were purchased at 92.77 for total proceeds of $106,917,500. Prices ranged from 91 to 95.
The authority invited holders to sell some or all of their bonds for cash in an offer that began on July 23 and expired at 5 p.m. ET on Aug. 17. Payment on accepted bonds was made on Aug. 30.
The authority is based in Warwick, R.I.
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