Brazos Higher Education, Texas, rescinds redemption of some bonds

By Marisa Wong

Madison, Wis., Dec. 29 - Brazos Higher Education Authority, Inc. gave notice that it has rescinded the planned redemptions of its student loan revenue bonds, senior series 2001A-6, 2004A-5, 2005A-1, 2005A-2, 2005A-3, 2005A-4, 2006A-12, 2006A-13 and 2006A-14.

The variable-rate bonds were originally to be redeemed at par plus accrued interest to the redemption date.

Originally to be redeemed on Jan. 5 were the following bonds:

• $79 million of 2001A-6 taxable bonds due July 1, 2036;

• $30 million of 2004A-5 taxable bonds due Dec. 1, 2039;

• $41.1 million of 2005A-1 tax-exempt bonds due Dec. 1, 2040;

• $80.1 million of 2005A-2 tax-exempt bonds due Dec. 1, 2040;

• $60 million of 2005A-3 tax-exempt bonds due Dec. 1, 2040;

• $30 million of 2005A-4 tax-exempt bonds due Dec. 1, 2040;

• $75.3 million of 2006A-12 taxable bonds due Dec. 1, 2042; and

• $75.3 million of 2006A-13 taxable bonds due Dec. 1, 2042.

Originally to be redeemed on Jan. 7 were $91.55 million of 2006A-14 taxable bonds due Dec. 1, 2042.

In addition, the issuer revised the previously announced full redemptions of its senior series 2003A-13, 2003A-15 and 2003B-2 student loan revenue bonds as follows:

• $9 million of its 2003A-13 taxable bonds due Dec. 1, 2039 will be redeemed on Jan. 6;

• $1.4 million of its 2003A-15 taxable bonds due Dec. 1, 2039 will be redeemed on Jan. 5; and

• $2 million of 2003B-2 taxable bonds due Dec. 1, 2039 will be redeemed on Jan. 5.

Brazos Higher Education is a Waco, Texas-based non-profit corporation that specializes in student loans.

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