Colorado Springs, Colo., purchases tendered utilities system bonds

By Marisa Wong

Madison, Wis., Sept. 16 - City of Colorado Springs, Colo., said that its $87.725 million series 2007B variable-rate demand utilities system improvement and refunding revenue bonds were subject to mandatory tender for purchase on Sept. 16.

The tendered bonds were purchased at par plus accrued interest to the purchase date.

The mandatory tender was due to substitution of a new standby bond purchase agreement for the bonds' existing liquidity facility provided by Dexia Credit Local, New York Branch.

Barclays Bank plc and Wells Fargo Bank, NA were the tender agents.

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