Clark County, Nev., 2008 airport system bonds have mandatory tender

By Marisa Wong

Madison, Wis., Feb. 16 - Clark County, Nev., said that its airport system subordinate-lien revenue bonds, series 2008C-1, 2008D-1, 2008D-2 and 2008D-3, are subject to mandatory tender on March 18.

The bonds will be purchased at par plus accrued interest to the purchase date.

The mandatory tender follows the replacement of the existing credit facilities for the bonds with alternate credit facilities, effective March 17.

Specifically, the current facility for the 2008C-1 bonds will be replaced by a letter of credit delivered by JPMorgan Chase Bank, NA; the facility for the 2008D-1 bonds will be replaced by a letter of credit delivered by Citibank, NA; the alternate facility for the 2008D-2A bonds is a letter of credit by Citibank; the alternate facility for the 2008D-2B bonds is a letter of credit by Royal Bank of Canada; and the alternate facility for the 2008D-3 bonds is a letter of credit by Bank of America, NA.

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

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