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California arranges $300 million offering of floating-rate G.O. bonds
By Sheri Kasprzak
New York, Oct. 31 - The State of California plans to price $300 million of series 2013 index floating-rate general obligation bonds, according to a preliminary official statement.
The offering includes $100 million of 2013C bonds, $100 million of series 2013D bonds and $100 million of series 2013E bonds.
The bonds (A1/A/A) will be sold on a negotiated basis. BofA Merrill Lynch is the bookrunner for the 2013C bonds, Morgan Stanley & Co. LLC is the bookrunner for the 2013D bonds, and Wells Fargo Securities LLC is the bookrunner for the 2013E bonds.
The maturities have not been set.
Proceeds will be used to finance capital expenditures for the state.
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