By Sheri Kasprzak
New York, June 20 - The Vermont Student Assistance Corp. sold $378.4 million of series 2013-1 student loan asset-backed taxable floating-rate notes, according to a pricing sheet.
The offering included $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 have a 0.942% initial coupon priced at par.
The 2013-1B notes are due Dec. 28, 2040 and have a 0.9425% initial coupon priced at par.
The bonds were sold through Morgan Stanley & Co. LLC and RBC Capital Markets LLC.
Proceeds will be used to acquire a pool of student loans.
| Issuer: | Vermont Student Assistance Corp.
|
| Issue: | Series 2013-1 student loan asset-backed taxable floating-rate notes
|
| Amount: | $378.4 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC and RBC Capital Markets LLC (lead)
|
| Pricing date: | June 14
|
| Settlement date: | June 25
|
|
|
| $371.4 million series 2013-1A notes (/AA+(sf)/AAAsf)
|
| Maturity | Type | Coupon | Price
|
| April 30, 2035 | Term | 0.942% | 100
|
|
|
| $7 million series 2013-1B notes (//Asf)
|
| Maturity | Type | Coupon | Price
|
| Dec. 28, 2040 | Term | 0.942% | 100
|
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