New Jersey announces redemptions, defeasances of 2002A, 2004B bonds

By Tali David

Minneapolis, July 17 - New Jersey Educational Facilities Authority announced plans to redeem $101,575,000 of revenue bonds, according to two notices.

The authority will redeem $41.85 million of 5.25% series 2002A Higher Education Capital Improvement Fund revenue bonds due 2013 through 2017 at par plus accrued interest on Sept. 1.

It has defeased $59,725,000 of series 2004B New Jersey Institute of Technology revenue refunding bonds due 2013 through 2025. Those bonds will be redeemed at par plus accrued interest on Jan. 1, 2014.

The Bank of New York Mellon is the escrow agent for the 2002A notes and U.S. Bank NA is the agent for the 2004B notes.

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