California Statewide's Western University bonds have mandatory tender

By Tali Rackner

Norfolk, Va., March 11 - The California Statewide Communities Development Authority said its series 2007A-1 and 2007A-2 variable-rate demand revenue bonds issued for the Western University of Health Sciences are subject to mandatory tender, according to a notice.

The authority will purchase $50,425,000 of 2007A-1 and $46.92 million of 2007A-2 bonds at par plus accrued interest on April 1.

California Statewide said the tender is in connection with the conversion to the new index rate period.

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

The Walnut Creek, Calif.-based authority gives local governments access to low-cost, tax-exempt financing for community projects. Western University is a graduate school for the health professions and is located in Pomona, Calif.

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