Loan & DebtMay 6, 2026, 09:07 AM
Sallie Mae Announces Tender Offer for $500M Senior Notes
AI Summary
SLM Corporation (Sallie Mae) announced a cash tender offer to purchase any and all of its outstanding 3.125% senior notes due 2026, with $500,000,000 principal amount outstanding. The tender offer is being made in connection with a contemporaneous offering of new senior debt securities, with proceeds from the new offering intended to repurchase the existing notes. The offer is conditioned upon the completion of the New Notes Offering and is set to expire on May 12, 2026.
Key Highlights
- Sallie Mae commenced a cash tender offer for its 3.125% senior notes due 2026.
- The offer targets $500,000,000 principal amount outstanding of the notes.
- The tender offer is scheduled to expire at 5 p.m. NYC time on May 12, 2026.
- Expected settlement date for tendered notes is May 15, 2026.
- The tender offer is conditioned upon the completion of a contemporaneous New Notes Offering.
- Proceeds from the New Notes Offering will be used to repurchase notes.
- J.P. Morgan Securities LLC is serving as the exclusive Dealer Manager for the offer.
Price Impact
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