Chicago Transit defeases $48.95 million of its Federal Transit bonds

By Tali David

Minneapolis, Nov. 18 - Chicago Transit Authority said that it has defeased $48.945 million of its Federal Transit Administration section 5307 formula funds capital grand receipts revenue bonds, according to a news release.

The authority will redeem $4.75 million of its series 2004B bonds due 2016 and $44.195 million of its series 2006A bonds due 2012 through 2020.

The bonds will be redeemed on Dec. 1, 2016 at par.

Amalgamated Bank of Chicago is the trustee.

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