Gulf Coast Industrial's Citgo Petroleum bonds have mandatory tender

By Tali David

Minneapolis, Aug. 31 - The Gulf Coast Industrial Development Authority, Texas, said its $50 million Citgo Petroleum Corp. Project series 1995 solid waste disposal revenue bonds are subject to mandatory tender, according to a redemption notice.

The bonds will be tendered at par plus accrued interest on Oct. 1.

The tender is a result of the conversion of the current term rate period ending on Sept. 30 to a new term rate period ending on May 1, 2025. The new term rate will be set no later than one business day prior to the conversion date of Oct. 1.

U.S. Bank NA is the trustee.

Citgo is a Houston-based refiner and marketer of transportation fuels, lubricants, petrochemicals and other industrial products.

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