Philadelphia to redeem $96.3 million gas works revenue bonds at par

By Melissa Kory

Cleveland, June 29 - The City of Philadelphia said it will redeem its $96.3 million of third series 1998 ordinance gas works revenue bonds.

The bonds affected include the following:

• $3.315 million 5.5% bonds due Aug. 1, 2014;

• $4.11 million 5.5% bonds due Aug. 1, 2018;

• $3.5 million 5.5% bonds due Aug. 1, 2015;

• $4.335 million 5.5% bonds due Aug. 1, 2019;

• $3.69 million 5.5% bonds due Aug. 1, 2016;

• $9.38 million 5.25% bonds due Aug. 1, 2021;

• $3.895 million 5.5% bonds due Aug. 1, 2017; and

• $64.075 million 5.125% bonds due Aug. 1, 2031.

The notes will be redeemed on Aug. 1 at par, plus accrued interest to the redemption date.

U.S. Bank, NA is the redemption agent.

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