Educational Enhancement Funding calls $11.82 million of tobacco bonds

By Tali David

Minneapolis, May 14 - Educational Enhancement Funding Corp., S.D., plans to pay down $11,818,000 of its tobacco settlement asset-backed bonds, series 2002A, according to a redemption notice.

The 6.72% bonds, which are due June 1, 2025, will be redeemed at par plus accrued interest on June 1.

Following the transaction, $54.58 million will remain outstanding.

U.S. Bank NA is the trustee.

Educational Enhancement Funding is a Pierre, S.D.-based special purpose corporation.

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