Philadelphia's $100 million 2009B G.O. bonds have mandatory tender

By Marisa Wong

Madison, Wis., July 18 - City of Philadelphia gave notice that its $100 million series 2009B general obligation multi-modal refunding bonds are subject to mandatory tender for purchase on Aug. 4.

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

The mandatory tender is due to the substitution of an alternate credit facility and alternate liquidity facility for the bonds' existing letter of credit.

U.S. Bank NA is the tender agent.

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