City of Fayetteville, Arkansas
CUSIP 312673EN2
- Issue Currency: United States of America Dollars
- Announcement Date: 30-Sep-2015
- News: Municipal Name: City of Fayetteville, Arkansas CUSIP: 312673EN2 Partial Redemption: USD 880M Redemption Date: November 1, 2015 For Bond Document please visit www.BondPDF.com
- Issue Currency: United States of America Dollars
- Announcement Date: 06-Nov-2017
- News: Regions Bank as trustee (the ""Trustee``) under the Trust Indenture dated as of April 15, 2005 (the ""Indenture"") related to the referenced bonds, by and between the City of Fayetteville, Arkansas, as issuer (the "" Issuer""), and Regions Bank, as successor to The Bank of Fayetteville, N.A., hereby resigns as Trustee pursuant to Section 907 of the Indenture. This resignation shall take effect upon the appointment of a successor trustee by the Bondholders or the City.
- Issue Currency: United States of America Dollars
- Announcement Date: 20-Dec-2017
- News: Regions Bank is communicating the following to you in its capacity as the trustee (the Trustee) under the Trust Indenture dated as of April 15, 2005 (the Indenture) by and between the City of Fayetteville, Arkansas, as Issuer (the Issuer), and Regions Bank, as successor to The Bank of Fayetteville, N.A. Capitalized terms used herein but not defined herein shall have the respective meanings set forth in the Indenture. As of the date of this notice, Trustee has received direction from approximately 52% of the bondholders relating to (i) the appointment of Bank of the Ozarks, as successor trustee, (ii) the hiring of counsel for the purpose of creating a recurring voluntary tender offer program to offer bondholders the option to tender their Bonds on an annual basis at an amount that is less than the Accreted Value, and (iii) modification of the Indenture to waive the Trustee fee restrictions in the Indenture so that market conditions may be determinative of the fees charged by and expenses incurred by the Trustee. As of the date of this notice, the directions received exceed an aggregate of 51% of the principal amount of the Bonds relating to the appointment of a successor trustee and the hiring of counsel, but do not aggregate to 67% of the principal amount of the Bonds relating to the waiver of fee restrictions. Bank of the Ozarks has been appointed successor Trustee. Regions Bank and Bank of the Ozarks will work together to transition the trusteeship as soon as possible, but in any event prior to February 15, 2018.
