California defeases $930.05 million of general obligation bonds

By Wendy Van Sickle

Columbus, Ohio, Nov. 3 – The State of California defeased and announced the upcoming redemptions of $930.05 million of general obligation bonds issued in 2005 through 2007, according to a notice.

The following bond issued Dec. 1, 2005 will be redeemed on March 1, 2016 at par plus accrued interest:

• $45 million of 4.75% bonds due March 1, 2035.

The following bonds issued June 1, 2006 will be redeemed on Sept. 1, 2016 at par plus accrued interest:

• $12,565,000 of 5% bonds due March 1, 2027;

• $11,915,000 of 5% bonds due March 1, 2028;

• $31.44 million of 5% bonds due March 1, 2030;

• $49.7 million of 5% bonds due March 1, 2031;

• $56.5 million of 5% bonds due March 1, 2032;

• $35.07 million of 5% bonds due March 1, 2033;

• $51.76 million of 5% bonds due March 1, 2035;

The following bonds issued Sept. 1, 2006 will be redeemed on Sept. 1, 2016 at par plus accrued interest:

• $12.3 million of 5% bonds due Sept. 1, 2023;

• $29.1 million of 5% bonds due Sept. 1, 2031;

• $30.3 million of 5% bonds due Sept. 1, 2032;

The following bonds issued Nov. 1, 2006 will be redeemed on Oct. 1, 2016 at par plus accrued interest:

• $20.9 million of 5% bonds due Oct. 1, 2017;

• $33.4 million of 5% bonds due Oct. 1, 2018;

• $34.5 million of 5% bonds due Oct. 1, 2019;

• $7.3 million of 4% bonds due Oct. 1, 2020;

• $24.1 million of 5% bonds due Oct. 1, 2023;

• $11.2 million of 4.5% bonds due Oct. 1, 2026;

• $31.6 million of 4.75% bonds due Oct. 1, 2028;

• $34.6 million of 4.5% bonds due Oct. 1, 2031;

• $43.7 million of 4.5% bonds due Oct. 1, 2036;

The following bonds issued Feb. 1, 2007 will be redeemed on Dec. 1, 2016 at par plus accrued interest:

• $8.4 million of 5% bonds due Dec. 1, 2017;

• $10.5 million of 5% bonds due Dec. 1, 2018;

• $7.8 million of 5% bonds due Dec. 1, 2019;

• $37.8 million of 5% bonds due Dec. 1, 2020;

• $34.6 million of 5% bonds due Dec. 1, 2021;

• $36.6 million of 5% bonds due Dec. 1, 2022;

• $41 million of 5% bonds due Dec. 1, 2024;

• $42.2 million of 5% bonds due Dec. 1, 2025;

• $46 million of 5% bonds due Dec. 1, 2026;

• $47.8 million of 4.25% bonds due Dec. 1, 2029; and

• $10.4 million of 4.5% bonds due Dec. 1, 2032.

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