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Prospect News home > News index > List of issuers T > Headlines for Tenders 2010 > News item
Published on 10/13/2010 in the Prospect News Liability Management Daily and Prospect News Municipals Daily.

JEA, Fla., to redeem $99.19 million water, sewer system revenue bonds

By Marisa Wong

Madison, Wis., Oct. 13 - JEA in Florida said it will redeem six series of its water and sewer system revenue bonds and three series of its water and sewer system subordinated revenue bonds, totaling $99.19 million, on Nov. 12.

The bonds will be redeemed at par plus accrued interest to Nov. 11.

To be redeemed are the following revenue bonds:

• $18.82 million of 4.8% 2002C bonds due Oct. 1, 2032;

• $1.295 million of 4.625% 2003A bonds due Oct. 1, 2025;

• $2.89 million of 4.625% 2003A bonds due Oct. 1, 2028;

• $2.71 million of 4.625% 2003B bonds due Oct. 1, 2025;

• $6.07 million of 4.625% 2003B bonds due Oct. 1, 2028;

• $6.855 million of 4% 2004B bonds due Oct. 1, 2021;

• $7.125 million of 4.125% 2004B bonds due Oct. 1, 2022;

• $7.395 million of 4.25% 2004B bonds due Oct. 1, 2023;

• $3.055 million of 4.875% 2004C bonds due Oct. 1, 2029;

• $400,000 of 4.875% 2004C bonds due Oct. 1, 2034;

• $17.175 million of 5% 2004C bonds due Oct. 1, 2039; and

• $9.215 million of 4.625% 2005A bonds due Oct. 1, 2030.

To be redeemed are the following subordinated revenue bonds:

• $920,000 of 4.5% 2003C bonds due Oct. 1, 2023;

• $5.045 million of 4.625% 2003C bonds due Oct. 1, 2025;

• $2.505 million of 4.625% 2003C bonds due Oct. 1, 2028;

• $1.29 million of 3.875% 2004A bonds due Oct. 1, 2020;

• $2.045 million of 4.5% 2004B bonds due Oct. 1, 2023;

• $2.14 million of 4.625% 2004B bonds due Oct. 1, 2024; and

• $2.24 million of 4.75% 2004B bonds due Oct. 1, 2025.

The redemption will be funded with proceeds from JEA's water and sewer system revenue bonds, 2010 series E, and its water and sewer system subordinated revenue bonds, 2010 series B.

U.S. Bank NA is the registrar.

The electric utility company is based in Jacksonville, Fla.


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