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California to price $3 billion to $5 billion in taxable G.O.s Tuesday
By Sheri Kasprzak
New York, April 20 - The state of California is set to sell $3 billion to $5 billion in series 2009 taxable general obligation bonds on Tuesday following a retail order period on Monday, according to a preliminary official statement.
The bonds (A2//A) will be sold on a negotiated basis with Goldman, Sachs & Co. as the senior manager. The co-managers include J.P. Morgan Securities Inc., Barclays Capital Inc., Morgan Stanley & Co. Inc., Citigroup Global Markets Inc., De La Rosa & Co., Merrill Lynch & Co. Inc., RBC Capital Markets Inc., Siebert Brandford Shank & Co. LLC, Stone & Youngberg LLC and Wells Fargo Institutional Securities LLC.
The proceeds will be used to pay down outstanding AB 55 loan expenditures and to pay for projects eligible for tax-exempt financings.
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