Simpson Thacher represented the underwriters in connection with an offering by SLM Corporation (“Sallie Mae”) of $500 million aggregate principal amount of 6.500% Senior Notes due 2030.
Sallie Mae intends to use the net proceeds from the offering, together with cash on hand, to fund the redemption of its 4.200% Senior Notes due 2025.
Sallie Mae is the premier financial brand in higher education. Sallie Mae supports students and families navigating to, through and immediately after higher education. Sallie Mae simplifies the college planning process and advances higher education access and completion by providing free tools, resources, scholarships and responsible financing options.
The Simpson Thacher team included John C. Ericson and Julie De Keukeleire (Capital Markets); Jonathan Cantor and Lina Pan (Tax); Pasco Struhs and Matias Botto (Executive Compensation and Employee Benefits); Ron Ben-Yehuda and Christine Song (Intellectual Property); and Jennie Getsin (Blue Sky).