Foothill/Eastern Transportation, Calif., defeases $2.23 billion bonds

By Marisa Wong

Madison, Wis., Jan. 2 - Foothill/Eastern Transportation Corridor Agency of California gave notice that it defeased about $2.23 billion outstanding series 1999 toll road refunding revenue bonds. The bonds will be redeemed on Feb. 1.

The defeased bonds have maturity dates in the years 2015 through 2038 and 2040 and have coupons ranging from 5% to 6.09%.

A portion of the defeased bonds will be redeemed at 101, and the rest will be redeemed at par.

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

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