North Carolina Municipal Power defeases some 2008A, 2009A Catawba bonds

By Tali Rackner

Norfolk, Va., July 29 – The North Carolina Municipal Power Agency No. 1 defeased $157,485,000 of its series 2008A and 2009A Catawba electric revenue bonds, according to two notices.

The agency defeased $92,825,000 of 2008A bonds due Jan. 1, 2016 to 2020. Bonds due 2016 to 2018 will be redeemed at maturity, and bonds due 2019 to 2020 will be redeemed at par on Jan. 1, 2018.

It also defeased $64.66 million of 2009A bonds due Jan. 1, 2021 to 2026. The bonds will be redeemed at par on Jan. 1, 2019.

U.S. Bank NA is the agent.

The Raleigh, N.C.-based agency consists of 19 cities and towns in western North Carolina.

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