Simpson Thacher Represents Underwriters in Sallie Mae’s $500 Million Senior Notes Offering
11.02.21
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Simpson Thacher represented J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC and the other underwriters in connection with an offering by SLM Corporation (“Sallie Mae”) of $500 million aggregate principal amount of 3.125% Senior Notes due 2026.
Sallie Mae used a portion of the net proceeds from the offering to fund the redemption of its 5.125% Senior Notes due 2022 and for general corporate purposes, which may include the repayment of debt and future share repurchase programs.
Sallie Mae is the premier financial brand in higher education. Sallie Mae’s mission is to power confidence as students begin their unique journey. Sallie Mae simplifies the college planning process by providing tools, resources, and information to help students and families make informed decisions and to improve access and support college completion through its scholarship programs and responsible financing options.
The Simpson Thacher team included John C. Ericson, Ben Massey and MacKenzie Humble (Capital Markets); Jonathan Cantor and Lina Pan (Tax); Pasco Struhs (Executive Compensation and Employee Benefits); Melanie Jolson (Intellectual Property); and Jennie Getsin (Blue Sky).