Navient Corp. completed a previously announced public offering of $52.1 million of its 5.875% senior notes due 2021, which represented a reopening of the series offering. Previously, the company had offered a total of about $593 million of the notes.
The company previously said it expected to receive net proceeds of about $54.9 million from the offering. The proceeds were used for debt repurchases.
Interest on the notes is payable March 25 and Sept. 25 of each year, beginning Sept. 25.
Following the issuance, the aggregate principal amount outstanding of the company's 5.875% senior notes due 2021 is about $645.2 million.