Los Angeles County pays cash for $38.1 million in Union Station bonds

By Devika Patel

Knoxville, Tenn., July 15 - The Los Angeles County Metropolitan Transportation Authority announced holders of $38.1 million in general revenue refunding bonds, which were issued for Union Station Gateway Project, participated in its invitation to tender for cash, which launched July 13 and expired July 14.

Affected securities were the $42.45 million in series 2004-A bonds, of which $5.68 million in bonds were tendered; $42.43 million in series 2004-C bonds, of which $16.28 million in bonds were tendered, and $42.43 million in series 2004-D bonds, of which $16.15 million in bonds were tendered.

The cash offer is expected to settle July 22.

The company paid $960 per $1,000 in tendered 2004-A bonds and $970 per $1,000 in tendered 2004-C and 2004-D bonds.

Globic Advisors was the tender agent.

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