Business Services Industry
Sallie Mae prices $500 million of Short Term Floating Rate Notes
Business Wire, Jan 6, 1997
WASHINGTON--(BUSINESS WIRE)--Jan. 6, 1997--Sallie Mae Monday announced an offering of $500 million of Short Term Floating Rate Notes.
The notes were priced at par to yield a variable rate equal to 19 basis points above the bond equivalent yield of the 91-day U.S. Treasury bill auction rate. The notes are due July 17, 1997.
When-issued trading will begin at 8:20 a.m. Eastern time on Tuesday, Jan. 7. Settlement will be on Thursday, Jan. 9.
The CUSIP number is 86387TEY0. The interest rate will be reset on the calendar day following each weekly U.S. Treasury bill auction. Interest will be paid at maturity. The notes will be available in book-entry form only.
The notes are sold through a selling group managed by Sallie Mae.
Sallie Mae generally issues such notes on a monthly basis. -0-
Sallie Mae, a stockholder-owned (NYSE) corporation, is the nation's leading provider of financial services for postsecondary education needs. The corporation is the nation's largest source of funding and servicing support for education loans for students and their parents. It is also a leading provider of financing to colleges and universities for their facilities and equipment.
CONTACT: Sallie Mae, Washington
Donna Gillis, 202/298-3090 or
Ross Kleinman, 202/298-3013
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