New Jersey EDA partially defeases eight series of construction bonds

By Wendy Van Sickle

Columbus, Ohio, Sept. 16 – The New Jersey Economic Development Authority partially defeased school facilities construction bonds from series 2004I, 2004J4, 2006S, 2007U, 2008Y, 2009BB, 2009Z and 2012KK, according to eight notices.

The following series 2004I bonds have been defeased:

• $10,285,000 of 5.5% bonds due Sept. 1, 2018;

• $4,285,000 of 5.5% bonds due Sept. 1, 2019; and

• $4,385,000 of 5.5% bonds due Sept. 1, 2019.

The following series 2004J4 bond has been defeased:

• $4.07 million of 4% bonds due Sept. 1, 2016.

The following series 2006S bond has been defeased and will be redeemed on Sept. 1, 2016 at par plus accrued interest:

• $18.05 million of 5% bonds due Sept. 1, 2036.

The following series 2007U bonds have been defeased and will be redeemed on Sept. 1, 2017 at par plus accrued interest:

• $3.4 million of 4% bonds due Sept. 1, 2018;

• $315,000 of 5% bonds due Sept. 1, 2019;

• $3.65 million of 5% bonds due Sept. 1, 2025;

• $3.67 million of 5% bonds due Sept. 1, 2026;

• $3.69 million of 5% bonds due Sept. 1, 2027;

• $18,035,000 of 5% bonds due Sept. 1, 2032;

• $43.56 million of 5% bonds due Sept. 1, 2037; and

• $34.87 million of 5% bonds due Sept. 1, 2037.

The following series 2008Y bonds have been defeased and will be redeemed on Sept. 1, 2018 at par plus accrued interest:

• $6.9 million of 4% bonds due Sept. 1, 2018;

• $6.78 million of 5% bonds due Sept. 1, 2019;

• $7.09 million of 4.125% bonds due Sept. 1, 2020;

• $320,000 of 5% bonds due Sept. 1, 2021;

• $8,405,000 of 4.5% bonds due Sept. 1, 2024;

• $44,955,000 of 5% bonds due Sept. 1, 2033; and

• $12,825,000 of 4.75% bonds due Sept. 1, 2033.

The following series 2009BB bonds have been defeased and will be redeemed at maturity or on Sept. 1, 2019 at par plus accrued interest:

• $2.8 million of 3.25% bonds due Sept. 1, 2016;

• $2.63 million of 3.5% bonds due Sept. 1, 2017;

• $1,215,000 of 4% bonds due Sept. 1, 2018;

• $5.12 million of 5% bonds due Sept. 1, 2018;

• $5 million of 5% bonds due Sept. 1, 2019;

• $2 million of 5% bonds due Sept. 1, 2021;

• $4.34 million of 5% bonds due Sept. 1, 2022;

• $8.35 million of 5.25% bonds due Sept. 1, 2024;

• $8.8 million of 5.25% bonds due Sept. 1, 2025;

• $10.2 million of 5.25% bonds due Sept. 1, 2028;

• $10.75 million of 5.25% bonds due Sept. 1, 2029;

• $11,315,000 of 5% bonds due Sept. 1, 2030; and

• $51,355,000 of 5% bonds due Sept. 1, 2034.

The following series 2009Z bond has been defeased:

• $2.19 million of 3% bonds due Dec. 15, 2016.

The following series 2012KK bonds have been defeased:

• $3.31 million of 5% bonds due March 1, 2016;

• $3.48 million of 3% bonds due March 1, 2017;

• $3.58 million of 4% bonds due March 1, 2018;

• $3,725,000 of 5% bonds due March 1, 2019; and

• $3,335,000 of 5% bonds due March 1, 2020.

U.S. Bank, NA is the escrow agent.

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