Burlington County Bridge Commission
CUSIP 121649AA5
- Issue Currency: United States of America Dollars
- Announcement Date: 04-Aug-2017
- News: As a result of its continued noncompliance with its debt service coverage ratio covenant pertaining to the above-captioned bonds and parity indebtedness (collectively, the Bonds), which was initially reported on April 28, 2017, The Evergreens (the ""Borrower"") is currently pursuing a forbearance agreement with holders of the Bonds. In connection therewith, the Borrower will be initiating contact with certain holders to discuss the possible terms of such forbearance agreement.
- Issue Currency: United States of America Dollars
- Announcement Date: 21-Sep-2017
- News: Municipal Name: Burlington County Bridge Commission CUSIP: 121649AA5 Currency: USD Burlington County Bridge Commission today announced the appointment of UMB Bank, n.a. as successor trustee relating to its Series 2007 Economic Development Bonds effective on September 20, 2017.
- Issue Currency: United States of America Dollars
- Announcement Date: 07-Feb-2018
- News: After a period of negotiation and documentation, the Borrower and the Trustee, at the direction of the Majority Owners, have executed and entered into that certain Forbearance Agreement dated as of February 5, 2018 (the Forbearance Agreement). Under the Forbearance Agreement, in exchange for certain agreements of the Borrower contained therein, the Trustee has agreed to suspend, until December 31, 2018 (or earlier, in the event of a Forbearance Default, as defined in the Forbearance Agreement), the debt service coverage ratio covenant and rating solicitation covenant set forth in Section 714 and 716 of the Loan and Trust Agreement, respectively, and to modify, during the Forbearance Period (as defined in the Forbearance Agreement), the frequency of testing of Days Cash on Hand, from a semiannual to an annual test.
