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Student Loan Corp's TALF-Eligible $690 Million Deal Sold -Source

By Anusha Shrivastava Of DOW JONES NEWSWIRES NEW YORK-(Dow Jones)- Student Loan Corp.'s (STU) $690 million bond has priced, according to a person familiar with the matter. The private student loan-backed deal, dubbed SLCLT 2010-B, is eligible for funding through the U.S. Federal Reserve's Term Asset-Backed Securities Loan Facility, or TALF, which ends this month. Investors can get low-cost loans to buy newly created asset-backed deals until Thursday. Student Loan Corp.'s deal is led by Citigroup and is one of about $7 billion worth of deals that emerged ahead of the final TALF dealine. The largest triple-A rated tranche worth $475.5 million sold at 350 basis points over one-month London interbank offered rate, or Libor. On Wednesday, SLM Corp. (SLM), better known as Sallie Mae, priced its $1.55 billion bond TALF-eligible deal, according to a term sheet. It sold at 325 basis points over one-month Libor. Other issuers this month include lender CIT Group, Chrysler Financial Lease Trust, Ford Motor Credit, Premium Finance Specialists and Budget Rental. The bulk of the securities are in so-called "off-the-run" sectors like equipment loans and insurance receivables. -By Anusha Shrivastava, Dow Jones Newswires; 212-416-2227; anusha.shrivastava@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

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