Newport Beach, Calif.'s Hoag Memorial bonds have mandatory tender

By Marisa Wong

Madison, Wis., Jan. 28 - The City of Newport Beach, Calif., said that its $80 million of Hoag Memorial Hospital Presbyterian refunding revenue bonds, series 2008D, are subject to a mandatory tender on Feb. 8.

The bonds, which are due Dec. 1, 2040, will be purchased at par plus accrued interest to the purchase date.

The mandatory tender is due to the substitution of an alternate credit facility to be issued by JPMorgan Chase Bank, NA for the existing credit facility issued by Bank of America on Feb. 8.

Wells Fargo Bank, NA is the trustee and agent.

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