Davis Polk Advises SLM Corporation on Its $200 Million Senior Notes Offering

Davis Polk advised SLM Corporation on an SEC-registered offering of $200 million aggregate principal amount of 5.125% senior notes due April 5, 2022. 

SLM Corporation, more commonly known as Sallie Mae, operates a consumer banking business whose primary activity is the origination and servicing of private education loans. This offering was SLM Corporation’s first offering of unsecured debt securities since its spinoff of Navient, an education loan management, servicing and asset recovery business, in 2014.

The Davis Polk corporate team included partner John B. Meade and associates Cameron C. Lewis and Evan Leitner. Partner Margaret E. Tahyar and associate Jennifer E. Kerslake provided bank regulatory advice. Partner Kathleen L. Ferrell and associate Joshua J. Micelotta provided tax advice. Associate Jennifer Wang provided 1940 Act advice. All members of the Davis Polk team are based in the New York office.