Sallie Mae (SLM) Sells $3.8 billion in Student Loan Assets
Sallie Mae (NASDAQ: SLM), formally SLM Corporation, today announced that it has sold the residual interest in its SLM Student Loan Trust 2007-4 securitization to a third party. Sallie Mae will continue to service the student loans in the trust under existing agreements. The sale will remove student loan assets of $3.8 billion and related liabilities of $3.7 billion from Sallie Mae’s balance sheet. The gain from the transaction will add $.08 to Sallie Mae’s 2013 GAAP and core earnings per share.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Gap, Inc. (GPS) Jan. Comps Decline 8%; Q4 EPS Guidance Tops Views
- Medley Capital (MCC) Misses Q4 EPS by 1c
- American Capital Senior Floating (ACSF) Reports In-Line Q4 EPS
Create E-mail Alert Related CategoriesCorporate News
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!