---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-225683"
form_type: "8-K"
ticker: "SLM"
cik: "0001032033"
company_name: "SLM Corp"
filed_at: "2026-05-15T14:37:10+00:00"
generated_at: "2026-05-15T14:38:21.357149+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# SLM Corp issues $500M 6.495% Fixed-to-Floating Notes due 2032; proceeds for tender offer

## Summary
- Offering $500M aggregate principal of 6.495% Fixed-to-Floating Senior Notes due May 15, 2032.
- Interest fixed at 6.495% for first 5 years, then floats at Benchmark plus 271 bps quarterly.
- Proceeds used to fund a tender offer for SLM's 3.125% senior notes due 2026 and pay fees.
- Notes redeemable at any time at applicable redemption prices; change of control put at 101%.
- Closed on May 15, 2026; under indenture with Deutsche Bank National Trust Company as trustee.

## SEC filing metadata
- accession: 0001193125-26-225683
- form_type: 8-K
- ticker: SLM
- cik: 0001032033
- company_name: SLM Corp
- filed_at: 2026-05-15T14:37:10+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1032033/000119312526225683/0001193125-26-225683-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1032033/000119312526225683/d672122d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-225683
- JSON: https://secwatch.observer/filing/0001193125-26-225683.json
- Plain text: https://secwatch.observer/filing/0001193125-26-225683.txt

## Key facts
- Material Agreements
  SLM Corp entered into Supplemental Indenture with Deutsche Bank National Trust Company valued at $500,000,000 aggregate principal amount (effective 2026-05-15).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Deutsche Bank National Trust Company
  - Value: $500,000,000 aggregate principal amount
  - Effective: 2026-05-15
  source text: On May 15, 2026, SLM Corporation (the “Company”) closed an offering of $500,000,000 aggregate principal amount of 6.495% Fixed-to-Floating Rate Senior Notes due 2032 (the “Notes”) issued by the Company (the “Offering”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1032033/000119312526225683/0001193125-26-225683-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.