Minneapolis wraps tender for Walker Methodist 1998 revenue bonds

By Jennifer Chiou

New York, Jan. 19 - The City of Minneapolis came out with results for the tender offer involving four series of Walker Methodist Senior Services Obligated Group's 1998 revenue bonds.

Holders had the opportunity to tender their bonds at a fixed price of 88% of par through Dec. 8.

In all, holders tendered bonds with a par value of $20,929,000 out of the $20.31 million of bonds involved in the offer.

Specifically, Walker said that holders tendered par value of:

• $5,094,000 of the $4.56 million of 5.875% series A revenue bonds;

• $12,865,000 of the $10.56 million of 6% series A revenue bonds;

• $410,000 of the $1.63 million of 5.875% series C revenue bonds; and

• $2.56 million of the $3.56 million of 6% series C revenue bonds.

On Dec. 18, proceeds from the closing and funding of Fannie Mae first-mortgage loans were used to retire the tendered bonds.

The tendered bonds were settled on Dec. 21.

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