North Carolina defeases $346.52 million of G.O. bonds in seven series

By Tali David

Minneapolis, Feb. 22 - The State of North Carolina defeased $346.52 million of seven series of general obligation bonds, according to multiple notices.

The following G.O. bonds will be redeemed at par plus accrued interest on the redemption date:

• $34.6 million of series 2003 highway bonds to be redeemed on May 1, 2013;

• $25.1 million of series 2003B public improvement bonds to be redeemed on April 1, 2013;

• $20 million of series 2004 highway bonds to be redeemed on May 1, 2014;

• $133.28 million of series 2004A public improvement bonds to be redeemed on March 1, 2014;

• $96.54 million of series 2005A public improvement bonds to be redeemed on March 1, 2015;

• $30 million of series 2006A higher education bonds to be redeemed on June 1, 2016; and

• $7 million of series 2007A public improvement bonds to be redeemed on March 1, 2017.

U.S. Bank NA is the escrow agent.

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