Port of Oakland to defease $463.82 million from three bond series

By Ashley Montgomery

Kansas City, Kan., Sept. 28 - The Port of Oakland, Calif., plans to defease all of its series 2002 L AMT and 2002 M non-AMT revenue bonds and all of its 2002 N AMT refunding revenue bonds, according to a notice.

Affected are $357,025,000 of series L bonds, $27.66 million of series M bonds and $79,135,000 of series N bonds.

The defeasance depends upon the successful issue of Port of Oakland's series 2012 P AMT refunding revenue bonds. Those bonds are expected to be issued on Oct. 10, on which date the proceeds from that issuance will be used for the defeasance.

The defeased bonds will be redeemed on Nov. 1 at par plus accrued interest.

U.S. Bank, NA is the trustee.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.