Texas Transportation defeases $837.64 million state highway fund bonds

By Tali Rackner

Norfolk, Va., Sept. 23 – The Texas Transportation Commission defeased $837,635,000 of its series 2007 and 2008 state highway fund first-tier revenue bonds, according to two notices.

The following 2007 bonds, totaling $792,135,000, will be redeemed at par plus accrued interest on April 1, 2017:

• $62.98 million of 5% bonds due April 1, 2018;

• $66,125,000 of 5% bonds due April 1, 2019;

• $69,435,000 of 5% bonds due April 1, 2020;

• $72,905,000 of 5% bonds due April 1, 2021;

• $76.55 million of 5% bonds due April 1, 2022;

• $80.38 million of 5% bonds due April 1, 2023;

• $84,395,000 of 5% bonds due April 1, 2024;

• $88,615,000 of 5% bonds due April 1, 2025;

• $93.05 million of 5% bonds due April 1, 2026; and

• $97.7 million of 5% bonds due April 1, 2027.

The following 2008 bonds, totaling $45.5 million, will be redeemed at par plus accrued interest on April 1, 2018:

• $8,235,000 of 5% bonds due April 1, 2019;

• $8,645,000 of 5% bonds due April 1, 2020;

• $9.08 million of 5% bonds due April 1, 2021;

• $9.53 million of 5% bonds due April 1, 2022; and

• $10.01 million of 5% bonds due April 1, 2023.

U.S. Bank NA is the escrow agent.

© 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.