Orlando-Orange Expressway, Fla., to amend call date for 2007A bonds

By Marisa Wong

Madison, Wis., March 9 - Orlando-Orange County Expressway Authority of Florida said it wants to amend the first optional redemption date of its $185,885,000 series 2007A revenue bonds due July 1, 2042.

The bonds are currently callable on July 1, 2017. The authority has been asked to push back the redemption date to July 1, 2021. Citigroup Global Markets, Inc., a beneficial owner of the bonds, requested the amendment.

The authority needs consents from the bondholders to effect the change. Holders have until 4 p.m. ET on March 16 to sign a consent request.

The authority will amend the redemption date of the bonds on March 20 for holders who consent to the amendment. Holders not consenting to the redemption date change will not be affected.

The Orland, Fla.-based expressway authority is responsible for construction, maintenance and operation of toll roads in Orange County.

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