Lynchburg Industrial Development Authority, Va., plans tender, rate conversion for bonds series

By Jennifer Chiou

New York, Oct. 20 - The Industrial Development Authority of the City of Lynchburg, Va., announced plans to convert three series of bonds to the weekly rate mode from the monthly rate mode.

Affected bonds include the $50.3 million of 2004 series A refunding revenue bonds due Jan. 1, 2018, $15.65 million of 2004 series D revenue bonds due Jan. 1, 2035 and $13 million of 2004 series E revenue bonds due Jan. 1, 2035.

As a result of the conversion, all bonds will be subject to a mandatory tender at par plus accrued interest.

The bonds must be tendered to the trustee, U.S. Bank NA (651 495-3511) by noon ET on Nov. 4.

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