PPHEA To Commence Consent Solicitation

CANYON, Texas, May 14, 2020 /PRNewswire/ -- Panhandle Plains Higher Education Authority, Inc. (the "Issuer") today announced the commencement of a consent solicitation with respect to its Student Loan Revenue Bonds, Series 2011-2 A-3—CUSIP: 698475AT7 (the "Bonds") seeking consents from the holders of the Bonds to amend the Indenture under which the Bonds were issued to permit an early redemption of the Bonds.

Pursuant to the terms of the Indenture, the redemption provisions of the Indenture may be amended with the consent of a majority in collective aggregate principal amount of the Bonds currently outstanding.

The solicitation period ends at 5 p.m. New York City time on May 21, 2020, unless amended.

The solicitation is being made by a Consent Solicitation Statement dated May 14, 2020 being distributed through D.F. King & Co., Inc. as Information Agent. The Solicitation Agent for the Consent Solicitation is RBC Capital Markets at (toll free) +1-877-381-2099 or (collect) +1-212-618-7843 or by email to [email protected].

Further information may be obtained from D.F. King & Co. at (800) 252-8173 or [email protected]. 

None of the Issuer, the Solicitation Agent, the Information and Tabulation Agent, the trustee under the Indenture or any of their respective affiliates is making any recommendation as to whether holders should deliver Consent in response to the Consent Solicitation. Holders must make their own decision as to whether to participate in the Consent Solicitation, and, if so, the principal amount of Bonds in respect of which to deliver Consent.

This news release shall not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities. The Consent Solicitation is being made only pursuant to the Consent Solicitation Statement and only in such jurisdictions as is permitted under applicable law. In any jurisdiction in which the Consent Solicitation is required to be made by a licensed broker or dealer, the Consent Solicitation will be deemed to be made on behalf of the Issuer by the Solicitation Agent, or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.

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SOURCE Panhandle Plains Higher Education Authority, Inc.