University of California defeases portion of 2003Q revenue bonds

By Marisa Wong

Madison, Wis., July 26 - The regents of the University of California said the issuer defeased a portion of its 2003 series Q multiple purpose projects revenue bonds.

Defeased in accordance with an escrow agreement dated July 1 are the following bonds:

• $10.545 million of $10.75 million of 5% bonds due Sept. 1, 2019;

• $11.075 million of $11.29 million of 5% bonds due Sept. 1, 2020;

• $11.63 million of $11.855 million of 5% bonds due Sept. 1, 2021;

• $12.205 million of $12.445 million of 5% bonds due Sept. 1, 2022; and

• $12.82 million of $13.07 million of 5% bonds due Sept. 1, 2023.

The refunded bonds will be redeemed at 101 plus accrued interest up to the redemption date, which is set for Sept. 1, 2011.

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

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