By Sheri Kasprzak
New York, Feb. 6 - The Kentucky Higher Education Student Loan Corp. priced $563.8 million of series 2013-1 student loan asset-backed notes, according to a pricing sheet.
The notes (/AA+(sf)/AAA(sf)) were sold through BofA Merrill Lynch.
The notes are due June 1, 2026, and bear interest at one-month Libor plus 50 basis points priced at par.
Proceeds will be used to retire all debt under a 2010 funding note purchase agreement and to cancel and redeem certain bonds under a 2008 indenture.
| Issuer: | Kentucky Higher Education Student Loan Corp.
|
| Issue: | Series 2013-1 student loan asset-backed notes
|
| Amount: | $563.8 million
|
| Maturity: | June 1, 2026
|
| Coupon: | One-month Libor plus 50 bps
|
| Price: | 100
|
| Type: | Negotiated
|
| Underwriter: | BofA Merrill Lynch
|
| Ratings: | Standard & Poor's: AA+(sf)
|
| Fitch: AAA(sf)
|
| Pricing date: | Feb. 6
|
| Settlement date: | Feb. 15
|
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