Sallie Mae files $1 billion shelf

New York, Aug. 3 - SLM Corp. - generally known as Sallie Mae - filed a $1 billion shelf registration with the Securities and Exchange Commission Wednesday.

Covered by the S-3 registration are debt securities, common stock, preferred stock and warrants. SLM said it is primarily registering the common stock for use in settlement of privately negotiated equity forward contracts. Stock may also be issued on conversion or exchange of debt securities, preferred stock or warrants.

The Reston, Va., student loan lender will use proceeds for general corporate purposes.

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