Los Angeles Water and Power's 2001B bonds have mandatory tender

By Tali David

Minneapolis, Dec. 29 - Department of Water and Power of the City of Los Angeles' $580.8 million power system variable-rate demand revenue bonds, 2001 series B, are subject to a mandatory tender, according to a release.

The following bonds will be redeemed at par plus accrued interest on Jan. 17:

• $100 million of subseries B-1 bonds;

• $106 million of subseries B-2 bonds;

• $106 million of subseries B-3 bonds;

• $76 million of subseries B-5 bonds;

• $81 million of subseries B-6 bonds;

• $81 million of subseries B-7 bonds; and

• $30.8 million of subseries B-8 bonds.

The tender is due to the delivery of a substitute 2001B credit support instrument, according to the release.

U.S. Bank NA is the paying agent.

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