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Torrance Memorial Medical Center, Calif., bonds have mandatory tender
By Marisa Wong
Madison, Wis., June 10 – City of Torrance, Calif., gave notice that its series 2010B and series 2010C variable-rate Torrance Memorial Medical Center revenue bonds are subject to mandatory tender for purchase on June 16.
The affected bonds include $64.86 million of 2010B bonds due Sept. 1, 2045 and $35.14 million of 2010C bonds due Sept. 1, 2045.
The mandatory tender is due to conversion of the bonds to a Libor index rate period, effective June 16.
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