Eastern Municipal Water District, Calif.'s $112.01 million COPs have mandatory tender July 21

By Melissa Kory

Cleveland, July 1 - The Eastern Municipal Water District of California said its $53.355 million of series 2008D and $58.65 million of series 2008E variable-rate water and sewer refunding certificates of participation are subject to a mandatory tender on July 21.

The series 2008D COPs mature July 1, 2023, and the series 2008E COPs mature July 1, 2033.

The mandatory tender for the series 2008D COPs was triggered by the substitution of the existing liquidity facility provided by Lloyd's TSB Bank plc with a liquidity facility to be issued by U.S. Bank, NA.

The mandatory tender for the series 2008E COPs was triggered by the substitution of the existing liquidity facility provided by Lloyd's TSB Bank with a liquidity facility to be issued by Wells Fargo Bank, NA.

The certificates will be purchased at a price equal to the outstanding principal amount plus accrued interest.

Union Bank, NA is the trustee.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.