Philadelphia's eighth series gas works bonds have mandatory tender

By Marisa Wong

Madison, Wis., Aug. 23 - City of Philadelphia said that all of its outstanding gas works revenue refunding bonds, eighth series B, eighth series C, eighth series D and eighth series E, are subject to mandatory tender for purchase on Sept. 1.

The outstanding bonds include $105 million of series B bonds, $50 million of series C bonds, $50 million of eighth series D bonds and $50 million of eighth series E bonds.

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

The mandatory tender is due to the delivery of an alternate credit facility.

U.S. Bank NA is the agent.

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