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Duke University, N.C., calls $500 million series 2009A taxable bonds
By Marisa Wong
Madison, Wis., April 6 - Duke University said it will redeem its $500 million of outstanding series 2009A taxable bonds on May 5.
The bonds will be redeemed at the greater of par and the sum of the present value of the remaining scheduled payments of principal and interest to maturity of the bonds, discounted to the redemption date on a semiannual basis at the Treasury rate plus 40 basis points. The issuer will also pay accrued interest to the redemption date.
To be redeemed are $250 million of R-1 bonds due April 1, 2014 and $250 million of R-2 bonds due April 1, 2019.
The Bank of New York Mellon Trust Co., NA is the trustee.
The university is located in Durham, N.C.
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