Student loan offer
NZPA Washington The Student Loan Marketing Association said it is offering about SUSS4 million of 16.86 per cent notes denominated in New Zealand dollars, according to the “Wall St Journal.” The notes are non-call-able and were priced at 180 basis points or 1.8 percentage points below the rate on the three-year New Zealand Government note. The issue is due on February 3, 1990., The association, known as Sallie Mae, said the notes will be sold in the United States by Salomon Brothers Inc. Sallie Mae said it will enter into a currency-exchange agreement to convert New Zealand dollar payments to U.S. dollars. Sallie Mae, which buys insured student loans and provides other financial services to financial and educational institutions, said proceeds would be used for general purposes. In another development, the Proctor and Gamble company advertised a new issue of SNZIOO million 16.75 per cent New Zealand dollar notes due on January 30, 1990.
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Press, 10 January 1987, Page 28
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157Student loan offer Press, 10 January 1987, Page 28
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