Maine Health, Higher Education defeases some series 2006B bonds

By Wendy Van Sickle

Columbus, Ohio, Aug. 10 – The Maine Health and Higher Educational Facilities Authority defeased some of its series 2006B revenue bonds, and others will be subject to mandatory sinking fund redemptions, according to a notice.

The following bonds have been defeased:

• $945,000 of bonds due 2016;

• $1,110,000 of bonds due 2020;

• $1,155,000 of bonds due 2021;

• $1.21 million of bonds due 2022;

• $1,275,000 of bonds due 2023;

• $1,335,000 of bonds due 2024;

• $1,395,000 of bonds due 2025;

• $1,465,000 of bonds due2026;

• $8.5 million of bonds due 2031; and

• $10,845,000 of bonds due 2036.

The series 2006B bonds maturing July 1, 2031 and 2036 that were not defeased will be subject to mandatory sinking fund redemption in the following principal amounts at par plus accrued interest on July 1 in each year:

2031 maturity

• $370,000 in 2027;

• $385,000 in 2028;

• $450,000 in 2029;

• $425,000 in 2030; and

• $450,000 in 2031.

2036 maturity with 5% coupon

• $450,000 in 2032;

• $475,000 in 2033;

• $500,000 in 2034;

• $525,000 in 2035; and

• $550,000 in 2036.

2036 maturity with 4 3/8% coupon

• $20,000 in 2032;

• $20,000 in 2033;

• $20,000 in 2034;

• $20,000 in 2035; and

• $20,000 in 2036.

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