New Jersey Building's four series of 2003 bonds have mandatory tender

By Marisa Wong

Madison, Wis., May 9 - New Jersey Building Authority said its state building revenue bonds, 2003 series A-1, A-2, A-3 and A-4, are subject to a mandatory tender for purchase on May 12.

To be purchased at par plus accrued interest to the purchase date are $51.35 million of 2003A-1 bonds due 2023, $51.55 million of 2003A-2 bonds due 2023, $34.375 million of 2003 A-3 bonds due 2023 and $34.375 million of 2003 A-4 bonds due 2023.

The bonds are subject to mandatory tender because the existing liquidity facilities for the bonds will be replaced with substitute letters of credit on May 12.

U.S. Bank NA is the trustee and agent.

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