NEWARK, Del.--(BUSINESS WIRE)-- Sallie Mae (NYSE: SLM) today announced the closing of a new, $3.4 billion asset-backed commercial paper facility arranged by Barclays Capital and Credit Suisse. The facility, which matures Jan. 27, 2014, will provide, subject to certain conditions, the financing to call the company’s 2009-B and 2009-C private student loan trust securities. The securities are first callable on Nov. 15, 2011, and Jan. 17, 2012, respectively.

Sallie Mae (NYSE: SLM) is the nation’s No. 1 financial services company specializing in education. Serving 23 million customers, Sallie Mae offers innovative savings tools, tuition payment plans and education loans that promote responsible financial habits and reward success. Through its subsidiaries, the company manages or services $234 billion in education loans and administers $38 billion in 529 college savings plans. Members of its Upromise college savings rewards program have earned $625 million to help pay for college. Sallie Mae is also one of the leading financial service providers for universities and governments at all levels, including supporting $8 billion in ecommerce transactions annually at nearly 1,000 campuses. More information is available at www.SallieMae.com. SLM Corporation and its subsidiaries, commonly known as Sallie Mae, are not sponsored by or agencies of the United States of America.

CONTACT:

Sallie Mae
Media
Patricia Nash Christel, 302-283-4076
patricia.christel@SallieMae.com
or
Investors
Steve McGarry, 302-283-4074
steven.mcgarry@SallieMae.com
or
Joe Fisher, 302-283-4075
joe.fisher@SallieMae.com

KEYWORDS:   United States  North America  Delaware

INDUSTRY KEYWORDS:   Education  University  Continuing  Professional Services  Banking  Finance

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