August 21, 2014 / 9:35 PM / 3 years ago

Just over quarter of Detroit water/sewer bonds tendered

1 Min Read

Aug 21 (Reuters) - Bondholders of $5.2 billion of Detroit water and sewer revenue bonds turned in only 28.34 percent of the debt for repurchase by Thursday's expiration of the city's tender offer, according to tender agent data.

Real-time data posted on the Internet by Bondholder Communications Group showed nearly $1.47 billion of senior and second lien bonds were tendered by the 5 p.m. Eastern Time deadline set by the city when it announced on Aug. 7 the offer to repurchase the debt.

Robert Apfel, Bondholder Communications president, said that official results will be announced by Detroit on Friday. (Reporting By Karen Pierog and Lisa Lambert; Editing by Chris Reese)

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