SLM Corp issues $500M 6.500% Senior Notes due 2030 to redeem 2025 notes

SLM Corp

$500M 6.500% Senior Notes due Jan 31, 2030; interest payable Jan 31 and Jul 31 starting Jul 2025.
Net proceeds with cash to redeem $500M 4.200% Senior Notes due 2025 on Feb 18, 2025 at make-whole premium.
Redemption price equals greater of 100% of principal plus accrued interest or discounted present value at Treasury Rate + 50 bps.
Underwriting agreement with J.P. Morgan Securities LLC and Barclays Capital Inc., dated Jan 29, 2025.

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