Cleveland to buy back series 2008 airport bonds in mandatory tender

By Angela McDaniels

Tacoma, Wash., Aug. 18 - The city of Cleveland will repurchase its series 2008A, series 2008B and series 2008C airport system revenue bonds on Aug. 27 under a mandatory tender due to the expiration of the letter of credit securing the bonds, according to a notice from the city.

The purchase price for the bonds is par plus accrued interest to the redemption date.

In July, the city said it would refund the bonds using the proceeds from a $159.23 million issue of series 2009C airport system revenue bonds.

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