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News Breaks | | | | February 13, 2013 | | 10:16 EDT |  | SLM | Sallie Mae sells residual interest in federally guaranteed student loan trust
Sallie Mae announced that it has sold the residual interest in its SLM Student Loan Trust 2007-4 securitization to a third party. Sallie Mae will continue to service the student loans in the trust under existing agreements. The sale will remove student loan assets of $3.8B and related liabilities of $3.7 billion from Sallie Mae’s balance sheet. The gain from the transaction will add 8c to Sallie Mae’s 2013 GAAP and core EPS. | |
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News For SLM From The Last 14 Days Check below for free stories on SLM the last two weeks. |
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| June 10, 2013 | | 16:18 EDT | | SLM | Sallie Mae in new $6.8B credit facility, eliminates conduit financing
Sallie Mae today announced that it closed a new $6.8B credit facility to facilitate term securitization of its federally guaranteed, FFELP, loans. The facility was oversubscribed by a syndicate of eight global financial institutions. The facility is secured exclusively by FFELP loans and will amortize over a one-year period. Its size exceeds the balance remaining in the company’s Straight A federally sponsored financing program, and as a result, the company will end participation in the program before the January 2014 deadline. | |
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