North Carolina calls $170 million 2003B G.O. bonds, defeases $335 million 2004A G.O.s

By Tali David

Minneapolis, March 4 - The State of North Carolina called $169,955,000 of its series 2003B and defeased $335 million of its series 2004A general obligation public improvement bonds, according to two notices.

The following 2003B bonds will be redeemed at par plus accrued interest on April 1:

• $13 million of 5% bonds due April 1, 2016;

• $13 million of 5% bonds due April 1, 2017;

• $13 million of 5% bonds due April 1, 2018;

• $18 million of 5% bonds due April 1, 2019;

• $30 million of 5% bonds due April 1, 2020;

• $30 million of 4.5% bonds due April 1, 2021;

• $30 million of 4.7% bonds due April 1, 2022; and

• $22,955,000 of 4.75% bonds due April 1, 2023.

The following 2004A bonds will be redeemed at par plus accrued interest on March 1, 2014:

• $25 million of 5% bonds due March 1, 2017;

• $25 million of 5% bonds due March 1, 2018;

• $25 million of 5% bonds due March 1, 2019;

• $65 million of 5% bonds due March 1, 2020;

• $65 million of 4.5% bonds due March 1, 2021;

• $65 million of 5% bonds due March 1, 2022; and

• $65 million of 4.5% bonds due March 1, 2023.

U.S. Bank NA is the escrow agent.

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