Sallie Mae (SLM) Sells $3.8 billion in Student Loan Assets
- Top 10 News for 03/03 - 03/07: Russia/Ukraine Tension Shakes Markets; Safeway Gets Official Bid; Bitcoin Founder 'Found'
- Icahn Plans to Use Facebook, Along with Twititer and Website to Communicate
- Nonfarm Payrolls Rose 175K in Feb., Led by Gains in Trade, Services
- Coupons.com (COUP) IPO Surges Higher
- Tesla (TSLA) Cuts Model S Price in Europe
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.
You May Also Be Interested In
- UPDATE: MasterCard (MA), Visa (V) Form Payment Systems Group
- Big Lots (BIG) Tops Q4 EPS by 3c; Guides Q1 Profit Below Consensus
- Incyte (INCY) Reports Ruxolitinib Met Primary Endpoint in Phase III for Polycythemia Vera
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!