Press release from Business Wire
Sallie Mae Announces New $8 Billion Financing Facility
Friday, January 10, 2014
Sallie Mae Announces New $8 Billion Financing Facility16:30 EST Friday, January 10, 2014
NEWARK, Del. (Business Wire) -- Sallie Mae (NASDAQ: SLM), the nation's No. 1 financial services company specializing in education, announced that it closed a new $8 billion asset-backed commercial paper facility that matures in January 2016. This facility replaces the existing $5.5 billion ABCP facility set to expire in January 2015. The additional $2.5 billion will be available for federally guaranteed loan acquisition or refinancing.
Sallie Mae (NASDAQ: SLM) is the nation's No. 1 financial services company specializing in education. Whether college is a long way off or just around the corner, Sallie Mae turns education dreams into reality for its 25 million customers. With products and services that include Upromise rewards, scholarship search tools, education loans, insurance, and online banking, Sallie Mae offers solutions that help families save, plan, and pay for college. Sallie Mae also provides financial services to hundreds of college campuses as well as to federal and state governments. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
Patricia Nash Christel, 302-283-4076
Joe Fisher, 302-283-4075