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Prospect News home > News index > List of issuers T > Headlines for Tenders 2011 > News item
Published on 9/1/2011 in the Prospect News Liability Management Daily and Prospect News Municipals Daily.

Metropolitan Washington Airports defeases some airport system bonds

By Marisa Wong

Madison, Wis., Sept. 1 - Metropolitan Washington Airports Authority said it defeased portions of its series 2001A, 2001B and 2009A-1 airport system revenue bonds and series 2002C airport system revenue refunding bonds.

The authority will redeem $169.3 million of defeased 2002C bonds due Oct. 1, 2021 and $56.975 million of defeased 2009A-1 bonds due Oct. 1, 2039 on Sept. 21 at par.

The following refunded 2001A bonds will be redeemed on Oct. 1 at par:

• $6.765 million of bonds due Oct. 1, 2012;

• $7.135 million of bonds due Oct. 1, 2013;

• $7.53 million of bonds due Oct. 1, 2014;

• $7.94 million of bonds due Oct. 1, 2015;

• $8.38 million of bonds due Oct. 1, 2016;

• $8.84 million of bonds due Oct. 1, 2017;

• $9.325 million of bonds due Oct. 1, 2018;

• $9.84 million of bonds due Oct. 1, 2019;

• $10.38 million of bonds due Oct. 1, 2020;

• $10.9 million of bonds due Oct. 1, 2021;

• $11.445 million of bonds due Oct. 1, 2022; and

• $67.19 million of bonds due Oct. 1, 2027.

The following refunded 2001B bonds will be redeemed on Oct. 1 at par:

• $340,000 of bonds due Oct. 1, 2012;

• $355,000 of bonds due Oct. 1, 2013;

• $370,000 of bonds due Oct. 1, 2014;

• $390,000 of bonds due Oct. 1, 2015;

• $405,000 of bonds due Oct. 1, 2016;

• $425,000 of bonds due Oct. 1, 2017;

• $1.92 million of bonds due Oct. 1, 2021;

• $3.005 million of bonds due Oct. 1, 2026; and

• $3.83 million of bonds due Oct. 1, 2031.

The redemption price for each series also includes accrued interest to the redemption date.

Manufacturers & Traders Trust Co. is the trustee.

The Washington, D.C., authority operates a two-airport system that includes Dulles International and Reagan National Airport.


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