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Sallie Mae Announces Pricing Terms of Tender Offer for Its 3.125% Senior Notes Due 2026
NEWARK, Del., May 12, 2026--Sallie Mae® (Nasdaq: SLM), formally SLM Corporation ("SLM" or the "Company"), announced today the pricing terms of its previously announced cash tender offer (the "Tender Offer") to purchase any and all of its outstanding 3.125% senior notes (the "Notes") upon the terms and conditions described in the Company’s Offer to Purchase, dated May 6, 2026 (the "Offer to Purchase").
About this update from Slm Corporation
NEWARK, Del., May 12, 2026--(BUSINESS WIRE)--Sallie Mae® (Nasdaq: SLM), formally SLM Corporation ("SLM" or the "Company"), announced today the pricing terms of its previously announced cash tender offer (the "Tender Offer") to purchase any and all of its outstanding 3.125% senior notes (the "Notes") upon the terms and conditions described in the Company’s Offer to Purchase, dated May 6, 2026 (the "Offer to Purchase"). Set forth in the table below is the purchase price (the "Purchase Price") for the Notes, as calculated at 2 p.m., New York City time, on May 12, 2026, in accordance with the Offer to Purchase: In addition to the Purchase Price, holders whose Notes are purchased pursuant to the Tender Offer will also receive accrued and unpaid interest thereon from the last interest payment date up to, but not including, the settlement date on which the Company makes payment for such Notes, which date is currently expected to be May 15, 2026, assuming that the Tender Offer is not extended or earlier terminated. The Tender Offer is being made pursuant to the terms and conditions contained in the Offer to Purchase and Notice of Guaranteed Delivery, copies of which may be obtained from D.F. King & Co., Inc., the tender agent and information agent for the Tender Offer, by calling (888) 626-0988 or, for banks and brokers, (212) 269-5550. Copies of the Offer to Purchase and Notice of Guaranteed Delivery are also available at the following web address: www.dfking.com/slm; or by requesting via email at [email protected]. The Tender Offer will expire at 5 p.m., New York City time, on May 12, 2026, unless extended or earlier terminated (such time and date, as the same may be extended, the "Expiration Time"). Tendered Notes may be withdrawn at any time before the Expiration Time. Holders of Notes must validly tender and not validly withdraw their Notes (or comply with the procedures for guaranteed delivery) before the Expiration Time to be eligible to receive the consideration for their Notes. Settlement for all Notes tendered prior to the Expiration Time or pursuant to a Notice of Guaranteed Delivery is expected to be May 15, 2026, assuming that the Tender Offer is not extended or earlier terminated. There can be no assurance that any Notes will be purchased. The Tender Offer is being made in connec...