SLM CORP. PFD B DL 100

SLM Corp placed $500 million in senior notes with a coupon of 6.495% in a fixed-to-floating structure maturing on May 15, 2032. The notes pay a fixed 6.495% p.a. until May 15, 2031, then float (reference rate + 271 basis points) and are callable in part or in full at contractually specified prices. Net proceeds are intended to finance the repurchase and redemption of the 3.125% senior notes due 2026; in the event of a change of control there is a repurchase offer at 101% of par. The issuance was made under an S-3 registration with J.P. Morgan and Barclays as joint bookrunners. » Więcej na de.investing.com

At the Barclays conference, SLM Corp presented a strategy that prioritizes lending quality over volume and revised new-business growth to 5–6%. From 2026 the company expects a phased market opportunity of $4.5–5 billion from Grad-PLUS and Parent-PLUS loans. SLM is exploring private credit partnerships to diversify revenue, expects a net charge-off ratio in the high-1% to low-2% range, and plans balance-sheet growth as well as dividends and share buybacks as capital-allocation priorities. » Więcej na de.investing.com