By Sheri Kasprzak
New York, June 28 - The Oklahoma Student Loan Authority sold $205.2 million of series 2011-1 taxable Libor Oklahoma student loan bonds, according to an official statement.
The bonds (/AAA/AAA) were sold through Bank of America Merrill Lynch.
The bonds are due June 1, 2040 and bear interest at three-month Libor plus 115 basis points.
Proceeds will be used to acquire eligible student loans from lenders or holders in the authority's network, as well as refund the authority's series 2008I-A1 variable-rate bonds.
| Issuer: | Oklahoma Student Loan Authority
|
| Issue: | Series 2011-1 taxable Libor Oklahoma student loan bonds
|
| Amount: | $205.2 million
|
| Maturity: | June 1, 2040
|
| Coupon: | Three-month Libor plus 115 bps
|
| Price: | 100
|
| Yield: | Three-month Libor plus 115 bps
|
| Type: | Negotiated
|
| Underwriter: | Bank of America Merrill Lynch
|
| Ratings: | Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | June 28
|
| Settlement date: | June 29
|
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