ADVFN - Advanced Financial Network.
HOME» NYSE » S » STU Stock Price » STU Stock News

Student Loan Share News

 Student Loan (the) Stock Price
STU Stock Price
 Student Loan (the) Stock Chart
STU Stock Chart
 Student Loan (the) Stock News
STU Stock News
 Student Loan (the) Company Information
STU Company Information
 Student Loan (the) Stock Trades
STU Stock Trades

Student Loan Corp's $1.432 Billion Asset-Backed Deal Sold

By Prabha Natarajan Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- Student Loan Corp. (STU), a subsidiary of Citigroup Inc. (C) and an originator of student loans, sold $1.432 billion asset-backed securities on Friday. Citi was the sole bookrunner on the deal. In what has become a trend of Citi clearing out its books, and helping investors find a way to park their extra cash before year end, the bank has sold nearly $3 billion of asset-backed securities. The student-loan backed deal is on top of the $1.5 billion credit-card backed deal that Citi sold on Thursday. Both deals surprised market participants, who had expected all issuance to be done for the year. Other investors say that the deal was based on reverse inquiry to satisfy the requests of large buyers, similar to the credit-card issue that closed on Thursday. Such deals offer investors an opportunity to put extra cash in portfolios to work, said Jim Harrington, a senior portfolio manager with Ryan Labs Asset Management. The student loan deal was a single-tranche issue that sold at 75 basis points over three-month LIBOR rate. The deal is not eligible for cheap funding through the Federal Reserve's Term Asset-Backed Securities Loan Facility, or TALF. The issue is backed by the Federal Family Education Loan Program, or FFELP consolidation loans, and is expected to settle Tuesday. -By Prabha Natarajan, Dow Jones Newswires; 212-416-2468; prabha.natarajan@dowjones.com

Stock News for Student Loan (STU)
DateTimeHeadline
10/20/201009:42:32Sallie Mae Won't Take Immediate Action On FFELP Portfolio
10/18/201009:06:07Student Loan Corp Swings To 3Q Loss On Write-Downs
09/20/201009:31:49Discover 3Q Net Down 74% On 2009 Gain; Profit Top Views
09/17/201011:00:11Discover: Student Loan Deal Will Raise EPS By 9 Cents In 2011
09/17/201010:12:13Student Loan Corp To Sell Off Assets To Trio Of Buyers
06/25/201013:34:16BANK BILL: Student Lenders Like Sallie Mae Avoid Setback
05/19/201010:28:25Sallie Mae: Interested In Exploring Citi's Student Loan Operations
05/12/201015:58:39Some Student Lenders See New Opportunity In Federal Loans
03/04/201012:54:06Student Loan Corp's TALF-Eligible $690 Million Deal Sold -Source
12/18/200914:59:20Student Loan Corp's $1.432 Billion Asset-Backed Deal Sold

Student Loan and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad