Pennsylvania Higher Educational to redeem AC, AE revenue bonds

By Tali Rackner

Norfolk, Va., May 8 – The Pennsylvania Higher Educational Facilities Authority plans to redeem its series AC and AE revenue bonds, according to a notice.

The following AC bonds will be redeemed at par plus accrued interest on June 15:

• $2.55 million of 5% bonds due June 15, 2016;

• $2,675,000 of 5% bonds due June 15, 2017;

• $2.8 million of 5% bonds due June 15, 2018;

• $2.95 million of 5% bonds due June 15, 2019;

• $3.1 million of 5% bonds due June 15, 2020;

• $2.55 million of 5% bonds due June 15, 2021;

• $2,675,000 of 5% bonds due June 15, 2022;

• $2.81 million of 5% bonds due June 15, 2023; and

• $6.03 million of 4.375% bonds due June 15, 2025.

The following AE bonds will be redeemed at par plus accrued interest on June 15, 2016:

• $4,465,000 of 5.25% bonds due June 15, 2016, to be redeemed at maturity;

• $4.47 million of 5.25% bonds due June 15, 2017;

• $4.7 million of 5% bonds due June 15, 2018;

• $4,935,000 of 5% bonds due June 15, 2019;

• $5.18 million of 5% bonds due June 15, 2020;

• $5,445,000 of 5% bonds due June 15, 2021;

• $4,725,000 of 5% bonds due June 15, 2022;

• $4,965,000 of 5% bonds due June 15, 2023;

• $16.43 million of 5% bonds due June 15, 2026;

• $8,845,000 of 4.75% bonds due June 15, 2032; and

• $7,405,000 of 4.5% bonds due June 15, 2036.

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

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