Virgin Islands revises redemption date for 1998E bonds to Oct. 28

By Marisa Wong

Milwaukee, Sept. 29 – The Virgin Islands Public Finance Authority gave notice that it rescinded its Sept. 18 call of all its outstanding series 1998E revenue and refunding bonds.

Instead, the finance authority announced on Tuesday that it will redeem all of its series 1998E bonds totaling $101.09 million on Oct. 28 instead of Oct. 18.

As previously reported, the bonds will be redeemed in full at 100.5, plus accrued interest up to the redemption date.

The Bank of New York Mellon is the trustee or agent.

The affected revenue and refunding bonds are the finance authority’s $24.75 million of 5.75% bonds due 2013, its $39.67 million of 5.875% bonds due 2018, and its $36.67 million of 6% bonds due 2022.

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