CUSIP 74442PCT0
- ISIN: US74442PCT03
- Entity Name: Public Finance Authority
- Sector: Municipal Agency
- Announcement Date: *****
- Effective Date: *****
- Issue Date: *****
- Maturity Date: *****
- Country of Issuer: *****
- Region: N.Amer
- Issue Currency: *****
- CA Type: Offer Repurchase
- News: On April 18, 2018, Natgasoline LLC (the Company) delivered the Certificate of Mechanical Completion for its 5,000-metric ton per day methanol production facility located in Beaumont, Texas (the Project). Mechanical completion signals that construction and pre-commissioning activities are substantially complete for the Project. The Company is now focused on the final commissioning and start-up, with the first production of methanol expected in May. Further, on April 25, 2018, the Public Finance Authority (PFA) will prepay the Public Finance Authority Pass-Through Revenue Bonds (Third Amended and Restated Promissory Note), Series 2016 (the PFA Bonds). PFA will fund the prepayment with the proceeds of the assignment of the Third Amended and Restated Promissory Note, dated August 30, 2016 (the PFA Note), to affiliates of the shareholders of the Company in full in an aggregate principal amount of $323,232,052.50. The proceeds of this assignment, together with funds for accrued but unpaid interest in the amount of $7,542,081.23, will be applied on April 25, 2018, to redeem in full the PFA Bonds. The Company will subsequently issue promissory notes to the assignees of the PFA Note in an aggregate principal amount of $330,774,133.73 (collectively, the Refinancing Notes), and amend and restate the PFA Note in the form of the Refinancing Notes. The Refinancing Notes will constitute OCI Shareholder Loans and Shareholder Loans, as each term is defined in the Collateral Agency and Account Agreement, dated as of May 1, 2016, as amended, of the Company.
- Description: *****
- Bond Document: https://www.bondpdf.com/bonds/38229d8c
- Latest Corporate Actions: https://www.CAalerts.com/credit-corporate-action/ISIN/US74442PCT03
