California Infrastructure and Economic Development to sell $61.915 million revenue refunding bonds Tuesday

By Sheri Kasprzak

New York, April 18 - The California Infrastructure and Economic Development Bank will price $61.915 million in state school fund apportionment lease revenue refunding bonds on Tuesday, the preliminary official statement said.

Banc of America Securities LLC is the lead manager for the negotiated offering. Stone & Youngberg, E.J. De La Rosa & Co., Great Pacific Securities, Toussaint Capital Partners and UBS Securities are the co-managers.

The bonds (A2/A+/A) are due 2008 to 2023.

Proceeds will be used to refund the bank's outstanding series 2005C state school fund apportionment lease revenue bonds and fund a reserve fund.

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