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AI brief of an SEC Form 8-K · SLM (SLM)

SLM Corp closes $500 million offering of 6.495% senior notes due 2032

Neutral Impact 3 of 5 financing Written later

SLM Corporation closed a $500 million offering of 6.495% fixed-to-floating rate senior notes maturing May 15, 2032. The company said it will use the proceeds to fund a tender offer for its 3.125% senior notes due 2026, with any remaining proceeds used to repay those 2026 notes at maturity.

Key points

  • Notes total $500 million, close date May 15, 2026, maturing May 15, 2032
  • Fixed rate of 6.495% through May 15, 2031, then floating at Benchmark plus 271 basis points
  • Proceeds to fund tender offer for 3.125% senior notes due 2026, with remainder for repayment at maturity

The filing

CompanySLM (SLM)
Form8-K, current report
Filed with the SECMay 15, 2026, 10:37 AM ET
Accession number0001193125-26-225683

Items reported: 1.01 Material Definitive Agreement8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:49 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 15, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.