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Utah Regents coordinates $415.5 million student loan-backed note sale
By Sheri Kasprzak
New York, June 1 – The Utah Board of Regents is set to price $415.5 million of series 2015-1 student loan-backed Libor index notes, according to a preliminary official statement.
The notes will be offered through RBC Capital Markets LLC.
The deal includes $408.5 million of series 2015A senior notes (/AA+(sf)/AAAsf) and $7 million of series 2015B subordinate notes (//Asf).
The 2015A notes are due Feb. 25, 2043, and the 2015B notes are due May 25, 2043.
Proceeds will be used to finance loans for post-secondary education.
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