Ohio Air’s redemption of $100 million of Dayton Power bonds revoked

By Wendy Van Sickle

Columbus, Ohio, June 23 – The Ohio Air Quality Development Authority’s conditional redemption of $100 million of collateralized air quality development revenue refunding bonds issued for the Dayton Power & Light Co. project has been revoked, according to two notices.

On June 1, the authority announced plans to redeem $50 million of 2008 series A bonds and $50 million of 2008 series B bonds on July 1, but the calls were conditioned upon the trustee, Bank of New York Mellon, receiving sufficient funds to pay the redemption price of par plus accrued interest.

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