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Tobacco Settlement, N.Y., to redeem $826.06 million revenue bonds
By Marisa Wong
Madison, Wis., July 8 - Tobacco Settlement Financing Corp. of the State of New York said it will redeem its $826.06 million of outstanding series 2003A-1C and 2003B-1C fixed-rate asset-backed revenue bonds in full on July 22.
The bonds will be redeemed at par plus accrued interest to the redemption date.
Affected are the following 2003A-1C bonds, totaling $338.8 million:
• $4.675 million of 5.25% bonds due June 1, 2014;
• $11.355 million of 5.5% bonds due June 1, 2014;
• $2.775 million of 5.25% bonds due June 1, 2015;
• $52.305 million of 5.5% bonds due June 1, 2015;
• $19.385 million of 5.25% bonds due June 1, 2016;
• $109.84 million of 5.5% bonds due June 1, 2016;
• $795,000 of 4.1% bonds due June 1, 2017; and
• $137.67 million of 5.5% bonds due June 1, 2017.
The 2003B-1C bonds, which total $487.26 million, include:
• $39.68 million of 5.25% bonds due June 1, 2013;
• $5.115 million of 4% bonds due June 1, 2014;
• $30.86 million of 5.5% bonds due June 1, 2014;
• $127.1 million of 5.5% bonds due June 1, 2015;
• $137.03 million of 5.5% bonds due June 1, 2016;
• $6.285 million of 4.375% bonds due June 1, 2017; and
• $141.19 million of 5.5% bonds due June 1, 2017.
The New York City-based corporation was created to purchase all or a portion of the state's share of the tobacco settlement revenues.
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