By Sheri Kasprzak
New York, Nov. 5 - The Kentucky Higher Education Student Loan Corp. priced $384 million of series 2013-2 student loan asset-backed notes, according to a pricing sheet.
The notes (/AA+(sf)/AAAsf) were sold through senior manager BofA Merrill Lynch.
The notes are due Sept. 1, 2028 and bear interest at one-month Libor plus 56 basis points priced at 99.329.
Proceeds will be used to permanently fund student loans that were funded on an interim basis, as well as to purchase for cancellation certain bonds that were issued under the 1997 general resolution.
| Issuer: | Kentucky Higher Education Student Loan Corp.
|
| Issue: | Series 2013-2 student loan asset-backed notes
|
| Amount: | $384 million
|
| Maturity: | Sept. 1, 2028
|
| Coupon: | One-month Libor plus 56 bps
|
| Price: | 99.329
|
| Type: | Negotiated
|
| Underwriter: | BofA Merrill Lynch
|
| Ratings: | Standard & Poor's: AA+(sf)
|
| Fitch: AAAsf
|
| Pricing date: | Nov. 5
|
| Settlement date: | Nov. 19
|
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