Sallie Mae says 89.68% of 3.125% notes due 2026 tendered at USD 995.83

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  • SLM received tenders for USD 448.41 million of its outstanding 3.125% senior notes due 2026, representing 89.68% of principal outstanding, at expiration of its cash tender offer.
  • Settlement set for May 15, 2026, with purchase price of USD 995.83 per USD 1,000 principal amount, plus accrued and unpaid interest to, but excluding, settlement.
  • Transaction tied to a contemporaneous senior debt securities offering intended to fund repurchases.
  • Notes not repurchased expected to be repaid at maturity, with plans to deposit funds to repay remaining notes and discharge related indenture shortly after settlement.


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