The Brazos Higher Education Service Corporation, Inc. announced that Leon Higher Education Authority, Inc., a Texas non-profit corporation for which Brazos acts as master servicer, is making offers to purchase or exchange in respect of approximately $6 billion aggregate principal amount of student loan-backed securities, almost all of which are auction rate securities (the "existing notes"). Brazos acts as master servicer for the companies that have issued the existing notes that are the subject of the offers: Brazos Higher Education Authority, Inc., Brazos Student Finance Corporation, Academic Finance Corporation, Trinity Higher Education Authority, Inc., Educational Funding Services, Inc., Federated Student Finance Corporation and EdInvest Company. The offers are being made with respect to existing notes issued under thirteen separate indentures, each of which is secured by a specified pool of student loans (the "underlying loan assets").
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