• SLM launched cash tender offer to buy any and all outstanding 3.125% senior notes due 2026, with USD 500 million principal outstanding.
• Pricing set to Treasury-based formula using 4.125% U.S. Treasury due Oct. 31, 2026, with fixed spread of 25 basis points; price determined at 2 p.m. New York time on May 12, 2026.
• Offer set to expire May 12, 2026, with settlement expected May 15, 2026; holders also receive accrued interest.
• Tender conditioned on completion of contemporaneous senior debt offering, with proceeds earmarked to fund repurchase.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. SLM Corporation published the original content used to generate this news brief via Business Wire (Ref. ID: 20260505081048) on May 06, 2026, and is solely responsible for the information contained therein.