PECO Energy's pollution control bonds subject to mandatory purchase and interest rate conversion

By Jennifer Chiou

New York, Aug. 14 - The Delaware County Industrial Development Authority in Pennsylvania announced a mandatory par tender offer and interest rate conversion for the $50.765 million of series 1999A pollution control revenue refunding bonds issued for the PECO Energy Co. project.

Holders will also receive accrued interest on the mandatory purchase date of Sept. 1.

In addition, the interest rate mode will be converted to either term rate mode or the commercial paper rate mode from daily rate mode.

The authority also said that the related credit facility will be terminated on Sept. 3.

The Bank of New York Mellon is the trustee.

The authority is based in Media, Pa., and PECO Energy is based in Philadelphia.

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