Student Loan Provider's Trust Issues $1 Billion in Student Loan Asset-Backed
Notes
SAN DIEGO, March 10 /PRNewswire/ -- Goal Financial, LLC, a leading
education finance company, announced today that its trust, Higher Education
Funding I, has issued $1 billion in Term Floating Rate Notes that are backed
by student loans. This is the trust's first publicly registered
securitization transaction and was underwritten by UBS Investment Bank,
Deutsche Bank Securities, Barclays Capital and Goldman Sachs.
"We are very satisfied with the execution of this publicly registered,
floating-rate note issuance," said Ryan Katz, CEO and co-founder of Goal
Financial. "The U.S. and European investor interest in these securities was
tremendous. Expanding our capital sources provides greater investor
diversification and continues to build on the foundation that has established
us as a top-10 holder of federally-guaranteed student loans."
Goal Financial expects that capital raised from the sale of student loan
asset-backed securities will help the company to continue its growth as an
industry leader that provides exceptional products and services to students
and families throughout the country. The senior-class student loan notes were
rated AAA by Moody's Investor Services, Standard & Poor's and Fitch Ratings.
The student loan asset-backed notes were issued by Higher Education Funding I,
a trust created to securitize student loans in the term ABS market.
The 2005-1 series of term floating rate notes were priced as follow:
Bond Class Par Amount Pricing Level Average Life
Class A-1 $242,000,000 3 month LIBOR + 0.03% 2.99
Class A-2 $269,000,000 3 month LIBOR + 0.10% 6.92
Class A-3 $217,000,000 3 month LIBOR + 0.13% 9.99
Class A-4 $171,000,000 3 month LIBOR + 0.14% 11.97
Class A-5 $101,000,000 3 month LIBOR + 0.16% 13.39
More information is available at: http://www.goalfinancial.net
About Goal Financial, LLC
Goal Financial, LLC, is the tenth-largest holder of federal student loans
in the United States. Since its inception in 2001, Goal Financial has helped
students and families consolidate more than $5 billion in educational debt
through the Federal Consolidation Loan Program. Goal Financial delivers
innovative financing solutions and world-class service in partnership with
leading service providers and guarantors. It provides Federal PLUS and
Stafford Loans for families, graduate and undergraduate students to finance
and manage the cost of a college education. Additional information can be
found at http://www.goalfinancial.net.
Forward-Looking Statements
This news release contains forward-looking statements. The forward-
looking statements are based on current expectations, estimates, forecasts and
projections about the industry in which we operate and management's beliefs
and assumptions. Forward-looking statements may be identified by the use of
words such as "expects," "anticipates," "intends," "plans," "believes,"
"seeks," "estimates," and similar expressions. Forward-looking statements are
not guarantees of future performance and involve known and unknown risks,
uncertainties and assumptions that are difficult to predict. Actual outcomes
and results may differ materially from what is expressed, forecasted or
implied in the forward-looking statements. We undertake no obligation to
update publicly any forward-looking statements, whether as a result of new
information, future events or otherwise.
Jennifer Sims
Marketing Manager
Goal Financial, LLC
9477 Waples St., Suite #100
San Diego, CA 92121
(T) 858-558-5156
(F) 858-558-4776
(E) jsims@goalfinancial.net
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