Kentucky Higher Education Student Loan delays $300 million bond sale

By Sheri Kasprzak

New York, June 3 - The Kentucky Higher Education Student Loan Corp. has postponed its previously announced $300 million sale of series 2008A-1 tax-exempt and series 2008A-2 taxable variable-rate demand revenue and refunding bonds, said James Ackinson, chief financial officer for the corporation.

"We now expect to sell on June 10," Ackinson said.

Proceeds from the sale will be used to refinance $217 million in auction-rate securities, Ackison told Prospect News. An additional $83 million in new tax-exempt bonds will be used to pay down a line of credit.

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