The Utah Board Of Higher Education (F/K/A The State Board Of Regents Of The State Of Utah) Announces Commencement Of Consent Solicitation Process For Its Outstanding Notes

Published: Dec. 2, 2021 at 4:14 PM EST

SALT LAKE CITY, Dec. 2, 2021 /PRNewswire/ --

Re:       The Series of Notes described below (each a "Series" and collectively, the "Notes")

Notes

CUSIPs

STATE BOARD OF REGENTS OF THE STATE OF UTAH

TAXABLE STUDENT LOAN BACKED NOTES, SERIES 2012-1

(LIBOR INDEXED NOTES)

91754R VZ7

STATE BOARD OF REGENTS OF THE STATE OF UTAH

STUDENT LOAN BACKED NOTES, SERIES 2014-1

(LIBOR INDEXED NOTES)

91754R YG6

STATE BOARD OF REGENTS OF THE STATE OF UTAH

STUDENT LOAN BACKED NOTES, SERIES 2015-1

(LIBOR INDEXED NOTES)

91754R YH4

91754R YJ0

STATE BOARD OF REGENTS OF THE STATE OF UTAH

STUDENT LOAN BACKED NOTES, SERIES 2016-1

(LIBOR INDEXED NOTES)

91754R ZD2

91754R ZE0

STATE BOARD OF REGENTS OF THE STATE OF UTAH

STUDENT LOAN BACKED NOTES, SERIES 2017-1

(LIBOR INDEXED NOTES)

91754R ZF7

91754R ZG5

UTAH BOARD OF HIGHER EDUCATION

STUDENT LOAN BACKED NOTES, SERIES 2020-1

(LIBOR INDEXED AND FIXED RATE NOTES)

91754R R58

91754R R66

As issuer of the Notes, the Utah Board of Higher Education (formerly known as the State Board of Regents of the State of Utah) (the "Issuer") today announced the commencement of six (6) consent solicitations seeking consent from the holders of the Notes identified above to amend the indentures governing each Series of the Notes (each an "Indenture") to permit the early redemptions of the related Notes. Pursuant to the terms thereof, the applicable provisions of each indenture governing the Notes may be amended with the consent of the holders of a majority in collective aggregate principal amount of the related Series of the Notes.

The solicitation period ends at 5:00 p.m. New York City time on December 15, 2021, unless otherwise extended or terminated.

Each solicitation is being made pursuant to a Consent Solicitation Statement for the related Series of the Notes each dated December 2, 2021, and are distributed through D. F. King & Co., Inc. as Information Agent. The Solicitation Agent for the Notes is RBC Capital Markets at (toll free) +1-877-381-2099 or (collect) +1-212-618-7843 or by email to liability.management@rbccm.com. Neither the Information Agent nor the Solicitation Agent nor their respective affiliates are making any recommendation as to whether holders of the Notes should deliver a Consent in response to any of the Consent Solicitation Statements. Holders of the Notes must make their own decision as to whether to participate in the Consent Solicitations and, if so, the principal amount of Notes that they hold in respect of which to deliver a Consent.

This news release does not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell securities. The Consent Solicitations are being made only pursuant to the Consent Solicitation Statements and only in such jurisdictions as is permitted under applicable law. In any jurisdiction in which the Consent Solicitations are required to be made by a licensed broker or dealer, the Consent Solicitations will be deemed to be made on behalf of the Issuer by the Solicitation Agent, or one or more registered brokers or dealers that are licensed under the laws of that jurisdiction.

Contact:

Salim Mawani


salim.mawani@rbccm.com

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SOURCE Utah Board of Higher Education

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