Sallie Mae in the Market with FFELP Deal

January 05, 2012, 6:08 p.m. EST 1 Min Read

SLM Corp. or Sallie Mae is in the market with SLM Student Loan Trust 2012-1 worth $765 million.

Joint bookrunners on the deal are Bank of America Merrill Lynch and JPMorgan Securities. The co-manager on the SLABS offering, which is backed by FFELP student non-consolidation loans, is Credit Suisse.

For the Securities and Exchange Commission filing on the transaction, please click here.

Moody's Investors Service has assigned provisional ratings of 'Aaa (sf)' to the $170 million floating-rate class A-1 notes; 'Aaa (sf)' to the $225 million floating-rate class A-2 notes; 'Aaa (sf)' to the $346.5 million floating-rate class A-3 notes; and 'Aa1 (sf)' to the $23.14 million floating-rate class B notes.

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