Thursday, August 21, 2014

Tracking DWSD's Bond Tender (UPDATED)

If you're interested in tracking DWSD's bond tender offer, there's a website that's providing real time coverage of the bonds and amounts that have been tendered back so far --

As of 1:00 p.m. EDT, 27.21% of the outstanding bond debt has been tendered back. The tender offer expires on Thursday, August 21, 2014 at 5:00 p.m. EDT. 

For more about the DWSD tender offer, Crain's Detroit Business had a terrific article this morning, click here.Fitch Ratings also has a good discussion here

Update (8/21): As of 5:00 p.m. EDT today, 28.35% of bonds had been tendered back.

Update (8/22): Its unclear whether the 28% of bonds that were tendered back by yesterday's deadline is enough.  The Board of Water Commissioners is scheduled to meet today in a Special Meeting at 1:00 p.m. EDT to discuss the matter and vote on a resolution either accepting or rejecting the tender. Click here to see the Agenda for today's special meeting.     

For more about DWSD Update, click here

No comments: