SLM - Sallie Mae starts offer to buy up to 2M shares of preferred stock

Sallie Mae (SLM) offers to buy up to 2M shares of its floating rate non-cumulative preferred stock, series B, par value $0.20 per share, at $45 per share.The offer will expire on Nov. 24, 2020 at 11:59 PM ET.SLM is using proceeds from its offering of $500M principal amount of 4.200% senior notes to pay for the tender offer.See SLM's total preferred equity over the past six years:

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Sallie Mae starts offer to buy up to 2M shares of preferred stock