California Department of Veterans Affairs to price $176.72 million revenue bonds

By Sheri Kasprzak

New York, Nov. 22 - The California Department of Veterans Affairs is set to sell $176.715 million of series 2011 home purchase revenue bonds, according to a preliminary official statement. Pricing is expected during the week of Nov. 28.

The deal includes $172.685 million of series 2011A non-AMT bonds and $4.03 million of series 2011B AMT bonds.

The bonds (Aa3/AA/AA-) will be sold on a negotiated basis with Bank of America Merrill Lynch and SL Hare Capital LLC as the senior managers.

The co-managers are George K. Baum & Co.; Great Pacific Securities Inc.; Hutchinson Shockey Erley & Co. Inc.; Jackson Securities Inc.; Morgan Keegan & Co. Inc.; Roberts & Ryan Investments Inc.; Southwest Securities Inc.; Westhoff, Cone & Holmstedt; and Wells Fargo Securities LLC.

The maturities have not been set.

Proceeds will be used to refund existing debt.

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