Los Angeles MTA invites bondowners to sell 2003-A & B prop A bonds

By Tali David

Minneapolis, Aug. 14 - The Los Angeles County Metropolitan Transportation Authority is inviting its bondowners to tender their shares of series 2003-A and 2003-B proposition A first-tier senior sales tax revenue refunding bonds for cash, according to a notice.

The following bonds are affected:

• $765,000 of 3.875% 2003-A bonds due July 1, 2014;

• $18,995,000 of 5% 2003-A bonds due July 1, 2014;

• $925,000 of 4% 2003-A bonds due July 1, 2015;

• $19.77 million of 5% 2003-A bonds due July 1, 2015;

• $600,000 of 4.1% 2003-A bonds due July 1, 2016;

• $16.14 million of 5% 2003-A bonds due July 1, 2016;

• $31,415,000 of 5% 2003-A bonds due July 1, 2017;

• $1,225,000 of 4.25% 2003-A bonds due July 1, 2018;

• $55.53 million of 5% 2003-A bonds due July 1, 2018;

• $67,635,000 of 5% 2003-B bonds due July 1, 2019;

• $86.14 million of 4.5% 2003-B bonds due July 1, 2020; and

• $88.86 million of 4.5% 2003-B bonds due July 1, 2021.

The offer will expire at 5 p.m. EST on Aug. 17.

The purchase price will be announced on Aug. 20 and the settlement date is expected to be Aug. 30.

The tender agent is Bondholders Communications Group.

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