• SLM priced a public offering of USD 500 million of 6.495% fixed-to-floating rate senior notes due 2032 at par.
• Net proceeds earmarked to fund purchase of up to USD 500 million of its 3.125% notes due 2026 tendered in an offer announced earlier today, including accrued interest, fees, and expenses.
• Any remaining proceeds set to repay 2026 notes still outstanding at maturity.
• Settlement expected May 15, 2026, subject to customary closing conditions.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. SLM Corporation published the original content used to generate this news brief via Business Wire (Ref. ID: 20260506672821) on May 07, 2026, and is solely responsible for the information contained therein.