Detroit Water And Sewer Bond Tender Appears To Fall Short - Presented by: The Aol. On Network

According to tender agent data, the holders of $5.2 billion of Detroit water and sewer revenue bonds turned in only 28.34 percent of the debt for repurchase before Thursday's expiration of the city's tender offer. Real-time data posted online by Bondholder Communications Group showed nearly $1.47 billion of senior and second lien bonds were tendered by the 5 p.m. deadline set by the city when it announced the offer on Aug. 7.



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