SLM Corp launches tender offer for all $500M of 3.125% 2026 notes, funded by new debt

Filed May 6, 2026 · Period ending May 6, 2026 · ~1 min read

Key Changes

• high

  SLM initiated a cash tender offer to purchase all $500M of its 3.125% senior notes due November 2026, with expiration May 12 and settlement expected May 15, 2026.

  Item 7.01 — Regulation FD Disclosure verify on EDGAR →
• high

  The tender is conditioned on completing a concurrent new senior debt offering, whose proceeds will fund the repurchase. No minimum tender level is required, but the offer may be terminated if the new debt does not close.

  Item 7.01 — Regulation FD Disclosure verify on EDGAR →
• medium

  Purchase price will be calculated using a 25 basis point spread over the 4.125% U.S. Treasury due October 2026, priced at 2 p.m. on May 12, 2026, plus accrued interest.

  Exhibit 99.1 verify on EDGAR →