California Statewide's Kaiser Permanente bonds have mandatory tender

By Tali David

Minneapolis, May 1 - California Statewide Communities Development Authority said that its $50 million of series 2009 E-1 and $50 million of series 2009 E-2 Kaiser Permanente revenue bonds, are subject to mandatory tender for purchase on June 1.

The bonds will be purchased at par plus accrued interest to the purchase date.

The mandatory purchase is the result of the conversion of the bonds to the interest rate period.

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

The Walnut Creek, Calif.-based authority gives local governments access to low-cost, tax-exempt financing for community projects. Kaiser Permanente is an Oakland, Calif.-based integrated managed care consortium.

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