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Published on 10/13/2009 in the Prospect News Municipals Daily.

San Francisco Airport prolongs offer for four series of parity bonds

By Jennifer Chiou

New York, Oct. 13 - The San Francisco Airport Commission said it has extended its cash tender offer for any and all of its 32H, 34C and 34E parity bonds and its 2008A parity notes.

The offer will now end at 5 p.m. ET on Oct. 19 instead of on Oct. 13.

Affected bonds include the:

• $10,175,000 of 5% bonds due 2010, $2 million of 4% bonds due 2010, $6,075,000 of 5% bonds due 2011, $2 million of 4% bonds due 2011, $4.5 million of 5% bonds due 2012 and $1 million of 4% bonds due 2012 under the 32H issue;

• $4.17 million of 5% bonds due 2011, $4,405,000 of 5% bonds due 2012, $10,355,000 of 4% bonds due 2013, $24.69 million of 5% bonds due 2014, $13.98 million of 4.25% bonds due 2015 and $19.98 million of 5% bonds due 2016 under the 34C issue;

• $4.25 million of 5% bonds due 2010, $12.68 million of 5% bonds due 2011, $14,545,000 of 5% bonds due 2012, $15.95 million of 4% bonds due 2014, $14.01 million of 5% bonds due 2015, $9.54 million of 5% bonds due 2016, $13,295,000 of 5% bonds due 2017, $5.71 million of 5% bonds due 2018, $25,295,000 of 5.75% bonds due 2019, $26,405,000 of 5.75% bonds due 2020, $29.72 million of 5.75% bonds due 2021, $30,655,000 of 5.75% bonds due 2022, $32,535,000 of 5.75% bonds due 2023, $34.44 million of 5.75% bonds due 2024 and $15,475,000 of 5.75% bonds due 202 5 under the 34E issue; and

• $50 million of 5.5% series 2008A-1 bonds due 2019, $50 million of 6.5% series 2008A-2 bonds due 2019, $100 million of 6.75% series 2008A-3 bonds due 2019 and $26,735,000 of 6.5% series 2008A-4 bonds due 2019.

The offer will be funded with the proceeds of refunding bonds. It began on Sept. 18.

Settlement is slated for Nov. 4.

De La Rosa & Co. and Morgan Stanley & Co. are the co-dealer managers for the tender offer and the underwriters for the bond sale.

Bondholder Communications Group is the information and tender agent (212 809-2663).


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