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Sallie Mae declares expiry and results of tender offer for preferred stock series B.

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Global Banking News-November 26, 2020-Sallie Mae declares expiry and results of tender offer for preferred stock series B

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SLM Corporation (Sallie Mae) (Nasdaq:SLM) declared on Wednesday the expiration and results of its cash tender offer for up to 2,000,000 shares of its floating rate non-cumulative preferred stock, series B (par value USD0.20 per share).

The offer expired on 24 November 2020 at 23:59 New York City time. Based on the count by the depositary for the offer, 1,489,304 securities were validly tendered and not validly withdrawn. As the total tendered amount is less than the maximum share amount, the company has accepted for purchase all such securities tendered as of the expiration date.

The consideration for each security tendered and accepted for purchase will equal USD45 plus an amount equal to accrued dividends.

Sallie Mae expects that the offer...

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