Pennsylvania Turnpike cancels call to redeem $208.62 million bonds

By Devika Patel

Knoxville, Tenn., June 22 - The Pennsylvania Turnpike Commission said it has rescinded its redemption notice for $208.62 million of its $233.46 million turnpike multi-modal revenue refunding bonds, series 2008 A-1, A-2 and A-3.

The bonds were to have been redeemed on July 1, the company had said on June 1, at par plus accrued interest up to the redemption date. Affected securities included the commission's $103.68 million of 2008 A-1 bonds due Dec. 1, 2022; its $52.47 million of 2008 A-2 bonds due Dec. 1, 2022; and its $52.47 million of 2008 A-3 bonds due Dec. 1, 2022.

U.S. Bank NA is the trustee.

Based in Middletown, Pa., the Pennsylvania Turnpike Commission was created in 1937 to construct, finance, operate and maintain the Pennsylvania Turnpike.

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