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New Jersey Economic Development remarkets $160 million in AGL bonds
By Sheri Kasprzak
New York, Oct. 20 - The New Jersey Economic Development Authority remarketed $160 million in gas facilities refunding revenue bonds sold on behalf of AGL Resources Inc. and subsidiary Pivotal Utility Holdings Inc.
The remarketing included $39 million in series 1996A bonds, which are due June 1, 2026; $20 million in series 2005 bonds, which are due Oct. 1, 2024; $46.5 million in series 2005 bonds, which are due Oct. 1, 2022; and $54.6 million in series 2007 bonds, which are due June 1, 2032.
Connected to the remarketing, the company entered into new letters of credit to support the remarketed bonds. The prior letters of credit expired in June and September.
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