California Infrastructure plans $276.9 million bonds for J. Paul Getty

By Sheri Kasprzak

New York, Nov. 14 - The California Infrastructure and Economic Development Bank plans to bring to market $276.9 million of series 2011 variable-rate refunding revenue bonds for the J. Paul Getty Trust, according to a preliminary official statement.

The bonds will be sold on a negotiated basis with Morgan Stanley & Co. LLC as the underwriter.

The offering includes $69.225 million of series 2011A-1 bonds, $69.225 million of series 2011A-2 bonds, $69.225 million of series 2011A-3 bonds and $69.225 million of series 2011A-4 bonds.

All of the bonds are due April 1, 2038.

Proceeds will be used to refund the bank's series 2003A-D variable-rate revenue bonds issued for the trust to construct, equip and renovate a museum and other facilities operated by the trust.

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