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Sallie Mae Announces Plan to Buy Up to $1.2B in Securities

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Sallie Mae (NASDAQ: SLM), the nation's No. 1 financial services company specializing in education, today announced that it has commenced cash tender offers to purchase certain of its outstanding securities.

The tender offers consist of separate offers as follows:

The Any and All Offer consists of 21 separate offers to purchase any and all of the outstanding securities, as listed in the table below (collectively, the “Any and All Offer”); and, The Waterfall Offer consists of four separate offers to purchase, under certain conditions, up to $1.2 billion less the aggregate principal amount of securities purchased in the Any and All Offer in outstanding securities as listed in the table below, using a “Waterfall” procedure (collectively, the “Waterfall Offer,” and together with the Any and All Offer, the “Offers”).

The securities and other information related to the Offers are listed in the following table:

Title of Security CUSIP No. ISIN Acceptance Priority Level Outstanding Principal Amount Early Tender Payment(1) Total Consideration(1)(2) Any and All Offer Floating Rate MTN, Series A Due November 1, 2013 78442FBH0 US78442FBH01 N/A $132,505,000 $30.00 $1,020.00 Floating Rate MTN, Series A Due November 21, 2013 78442FBJ6 US78442FBJ66 N/A $74,701,000 $30.00 $1,020.00 Floating Rate MTN, Series A Due January 1, 2014 78442FBM9 US78442FBM95

Posted-In: News Financing Offerings


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