WASHINGTON (dpa-AFX) - Student lender SLM Corp. (SLM), which is commonly known as Sallie Mae, said Friday that it has closed a new $8 billion asset-backed commercial paper facility that matures in January 2016.
The new facility replaces the existing $5.5 billion asset-backed commercial paper facility set to expire in January 2015.
The additional $2.5 billion will be available for federally guaranteed loan acquisition or refinancing.
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