By Sheri Kasprzak
New York, Feb. 20 – The Kentucky Higher Education Student Loan Corp. priced $134,605,000 of series 2015-1 student loan asset-backed notes, said a pricing sheet.
The notes (/AA+(sf)/AAAsf) were sold through BofA Merrill Lynch.
The notes are due Dec. 1, 2031 and bear interest at one-month Libor plus 75 basis points.
Proceeds will be used to finance the acquisition of student loans, to defease all remaining bonds under corporation’s 1997 general bond resolution and repay short-term debt.
| Issuer: | Kentucky Higher Education Student Loan Corp.
|
| Issue: | Series 2015-1 student loan asset-backed notes
|
| Amount: | $134,605,000
|
| Maturity: | Dec. 1, 2031
|
| Coupon: | One-month Libor plus 75 bps
|
| Price: | 100
|
| Type: | Negotiated
|
| Underwriter: | BofA Merrill Lynch
|
| Ratings: | Standard & Poor’s: AA+(sf)
|
| Fitch: AAAsf
|
| Pricing date: | Feb. 18
|
| Settlement date: | Feb. 26
|
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