Colorado E-470 authority starts Dutch tender for revenue bonds series

By Jennifer Chiou

New York, Sept. 17 - The E-470 Public Highway Authority of Colorado announced the launch of a modified Dutch auction tender offer for several series of its senior revenue bonds.

Affected securities include the following:

• $52.2 million of 5% series 2007 A-2 senior revenue bonds due Sept. 1, 2039;

• $52.2 million of 5% series 2007 B-2 senior revenue bonds due Sept. 1, 2039;

• $52.2 million of 5% series 2007 C-2 senior revenue bonds due Sept. 1, 2039;

• $52.165 million of 5% series 2007 D-2 senior revenue bonds due Sept. 1, 2039;

• $6.455 million of 5.75% series 1997A senior revenue bonds due Sept. 1, 2012;

• $11.365 million of 5.75% series 1997A senior revenue bonds due Sept. 1, 2013;

• $14.7 million of 5.75% series 1997A senior revenue bonds due Sept. 1, 2014;

• $37.185 million of 5.2% series 1997B senior revenue bonds due Sept. 1, 2011;

• $44.795 million of 5.25% series 1997B senior revenue bonds due Sept. 1, 2012;

• $44.795 million of 5.3% series 1997B senior revenue bonds due Sept. 1, 2013;

• $44.795 million of 5.35% series 1997B senior revenue bonds due Sept. 1, 2014; and

• $44.795 million of 5.4% series 1997B senior revenue bonds due Sept. 1, 2015.

The authority said it will purchase each series of bonds according to the Dutch auction procedure. It will also pay accrued interest or, in the case of the 1997B bonds, additional accredit value.

The offer will end at 5 p.m. ET on Oct. 13.

Morgan Stanley & Co. Inc. is the dealer manager (303 825-3063 or 212 762-7405). D.F. King & Co., Inc. is the information and tender agent (800 829-6551 or call collect 212 269-5550).

Plans for the offer were announced at the end of August.

The authority maintains the E-470 toll highway. It is based in Aurora, Colo.

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