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Published on 5/17/2013 in the Prospect News Liability Management Daily and Prospect News Municipals Daily.

JEA, Fla., defeases 2008, 2009 electric system revenue bonds

By Marisa Wong

Madison, Wis., May 17 - JEA, Fla., said it defeased some of its 2008 series C, some of its 2009 series B and all of its 2009 series C electric system subordinated revenue bonds and some of its series three 2009A electric system revenue bonds on Thursday.

The refunded bonds include the following:

• $5,115,000 of $12 million outstanding 5% series 2008C bonds due Oct. 1, 2013;

• $4,515,000 of $14,415,000 outstanding 5% series 2009B bonds due Oct. 1, 2014;

• $5,285,000 of $16.89 million outstanding 5% series 2009B bonds due Oct. 1, 2015;

• $5,285,000 of $16.89 million outstanding 5% series 2009B bonds due Oct. 1, 2016;

• $5,285,000 of $16.89 million outstanding 5% series 2009B bonds due Oct. 1, 2017;

• $5,285,000 of $16.89 million outstanding 5% series 2009B bonds due Oct. 1, 2018;

• $3.76 million of $12,005,000 outstanding 5% series 2009B bonds due Oct. 1, 2019;

• All $3.61 million of outstanding 4% series 2009C bonds due Oct. 1, 2014;

• All $17.97 million of outstanding 5% series 2009C bonds due Oct. 1, 2014;

• All $2.8 million of outstanding 4% series 2009C bonds due Oct. 1, 2015;

• All $12.6 million of outstanding 5% series 2009C bonds due Oct. 1, 2015;

• All $12.38 million of outstanding 4.5% series 2009C bonds due Oct. 1, 2020;

• All $7.02 million of outstanding 5% series 2009C bonds due Oct. 1, 2020;

• $5,965,000 of $19.06 million outstanding 4% 2009A bonds due Oct. 1, 2020; and

• $1.91 million of $6,105,000 outstanding 5% bonds due Oct. 1, 2020.

All but the defeased 2008C bonds, which will be redeemed at their maturity, will be redeemed on April 1, 2014.

The redemption price is par plus accrued interest to the redemption date.

U.S. Bank NA is the trustee.

JEA is an electric utility based in Jacksonville, Fla. The St. Johns River electric generation facility is also located in Jacksonville, Fla.


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