secwatch.observer — SEC 8-K summary
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Issuer:     SLM Corp (SLM)
CIK:        0001032033
Form:       8-K
Filed at:   2026-05-15T14:37:10+00:00
Accession:  0001193125-26-225683
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1032033/000119312526225683/0001193125-26-225683-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1032033/000119312526225683/d672122d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-225683

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