Rhode Island Student Loan to sell $111 million of floating-rate notes

By Sheri Kasprzak

New York, Aug. 21 - The Rhode Island Student Loan Authority is expected to price $111 million of series 2012 taxable Libor floating-rate notes, according to a preliminary official statement.

The notes (/AA+(sf)/AAA(sf)) will be sold on a negotiated basis with Bank of America Merrill Lynch as the senior manager.

The notes are due July 1, 2031.

Proceeds will be used to acquire a portfolio of student loans.

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