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Vermont Student Assistance arranges $378.4 million floating-rate notes
By Sheri Kasprzak
New York, June 7 - The Vermont Student Assistance Corp. plans to price $378.4 million of series 2013-1 student loan asset-backed taxable Libor floating-rate notes, according to a preliminary official statement.
The notes will be sold on a negotiated basis with Morgan Stanley & Co. LLC as the bookrunner and joint lead manager and RBC Capital Markets LLC as the joint lead manager.
The offering includes $371.4 million of series 2013-1A notes (/AA+(sf)/AAAsf) and $7 million of series 2013-1B notes (//Asf).
The 2013-1A notes are due April 30, 2035 and the 2013-1B notes are due Dec. 28, 2040.
Proceeds will be used to acquire a pool of student loans.
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