Pennsylvania Turnpike to redeem $249.94 million oil franchise bonds

By Tali Rackner

Norfolk, Va., Aug. 18 – The Pennsylvania Turnpike Commission plans to redeem all $249.94 million of its series A and B of 1998 oil franchise tax subordinate revenue bonds, according to two notices.

The following series A of 1998 bonds will be redeemed at par on Sept. 17:

• $5.87 million of 5.25% bonds due Dec. 1, 2014;

• $6.18 million of 5% bonds due Dec. 1, 2015;

• $6.5 million of 5.125% bonds due Dec. 1, 2016;

• $6,845,000 of 5.25% bonds due Dec. 1, 2017;

• $7,215,000 of 5.25% bonds due Dec. 1, 2018;

• $42,075,000 of 5% bonds due Dec. 1, 2023; and

• $72,865,000 of 4.75% bonds due Dec. 1, 2027.

The following series B of 1998 bonds will be redeemed at par on Sept. 17:

• $5,155,000 of 5.25% bonds due Dec. 1, 2014;

• $5,435,000 of 5.25% bonds due Dec. 1, 2015;

• $5.73 million of 5.25% bonds due Dec. 1, 2016;

• $6.03 million of 5% bonds due Dec. 1, 2017;

• $6.34 million of 5% bonds due Dec. 1, 2018;

• $36.93 million of 5% bonds due Dec. 1, 2023; and

• $36.77 million of 4.75% bonds due Dec. 1, 2027.

The Bank of New York Mellon Trust Co., NA is the trustee agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.