New Jersey Economic Development defeases New Jersey Natural Gas bonds

By Marisa Wong

Madison, Wis., Aug. 29 - New Jersey Economic Development Authority said it defeased its New Jersey Natural Gas Co. Project natural gas facilities refunding revenue bonds, series 1995A, 1995B, 1997A, 1998A, 1998B and 1998C.

The defeased bonds include:

• $9.545 million of 1998A bonds due Jan. 1, 2028, to be redeemed on Aug. 31;

• $15 million of 1998B bonds due Jan. 1, 2028, to be redeemed on Aug. 31;

• $18 million of 1998C bonds due April 1, 2033, to be redeemed on Aug. 31;

• $25 million of 1995A bonds due Aug. 1, 2030, to be redeemed on Sept. 7;

• $16 million of 1995B bonds due Aug. 1, 2030, to be redeemed on Sept. 7; and

• $13.5 million of 1997A bonds due Sept. 1, 2027, to be redeemed on Sept. 7.

The issuer will redeem the defeased bonds at par.

The Bank of New York Mellon is the agent.

The agency, which is responsible for expanding the state's economic base, is based in Trenton, N.J. New Jersey Natural Gas is a Wall, N.J., subsidiary of New Jersey Resources, which is an energy and natural gas provider.

© 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.