By Sheri Kasprzak
New York, June 12 – The Utah Board of Regents sold $415.5 million of series 2015-1 floating-rate student loan notes, according to a pricing sheet.
The notes were sold through RBC Capital Markets LLC.
The deal included $404.65 million of series 2015A senior notes (/AA+(sf)/AAAsf) and $10.85 million of series 2015B subordinate notes (//Asf).
The 2015A notes are due Feb. 25, 2043 and bear interest at one-month Libor plus 60 bps priced at 99.628.
The 2015B notes are due May 25, 2043 and bear interest at one-month Libor plus 150 bps priced at 89.160.
Proceeds will be used to finance loans for post-secondary education.
| Issuer: | Utah Board of Regents
|
| Issue: | Series 2105-1 floating-rate student loan notes
|
| Amount: | $415.5 million
|
| Type: | Negotiated
|
| Underwriter: | RBC Capital Markets LLC
|
| Pricing date: | June 5
|
| Settlement date: | June 12
|
|
|
| $404.65 million series 2015A senior notes (/AA+(sf)/AAAsf)
|
| Maturity | Type | Coupon | Price
|
| Feb. 25, 2043 | Term | One-month Libor plus 60 bps | 99.628
|
|
|
| $10.85 million series 2015B subordinate notes (//Asf)
|
| Maturity | Type | Coupon | Price
|
| May 25, 2043 | Term | One-month Libor plus 150 bps | 89.160
|
|
|
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