ABAG Finance Authority for Nonprofit Corporations, Calif., to price $63.46 million revenue bonds

By Sheri Kasprzak

New York, June 24 - The ABAG Finance Authority for Nonprofit Corporations of California is set to price $63.46 million in series 2010 insured revenue bonds, according to a preliminary official statement.

The bonds (/A-/) will be sold on a negotiated basis with Cain Brothers as the senior manager.

The maturities have not been set.

Proceeds will be used to refund the authority's series 1999 certificates of participation, as well as to finance or refinance costs associated with constructing Channing House, a health center with 27 assisted living units and 26 skilled nursing beds in Palo Alto, Calif.

Based in Oakland, Calif., the authority provides tax-exempt financing to nonprofit organizations.

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