Capital Beltway Funding revises I-495 HOT Lanes bonds redemption

By Marisa Wong

Madison, Wis., Nov. 19 - Capital Beltway Funding Corp. of Virginia revised the redemption of its I-495 HOT Lanes Project 2008 senior-lien multi-modal revenue bonds, according to a notice.

To be redeemed on Dec. 15 are $289 million of the bonds, instead of $589 million as previously announced. The $300 million of series 2008A bonds due Dec. 31, 2047 are no longer to be redeemed.

Capital Beltway will redeem the following bonds:

• $114 million of 2008B bonds due Dec. 31, 2047;

• $100 million of 2008C bonds due Dec. 31, 2047; and

• $75 million of 2008D bonds due Dec. 31, 2047.

The bonds will be redeemed at par plus accrued interest up to the redemption date.

Wells Fargo Bank, NA is the trustee.

Interstate 495 (Capital Beltway) surrounds Washington, D.C. and its inner suburbs in Maryland and Virginia.

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