Modesto Irrigation, Calif., plans $88.59 million electric system bonds

By Sheri Kasprzak

New York, Oct. 3 - The Modesto Irrigation District of California is set to price $88.59 million of series 2012 electric system revenue refunding bonds, according to a preliminary official statement.

The deal includes $85.8 million of series 2012A bonds and $2.79 million of series 2012B bonds.

The 2012A bonds are due 2013 to 2032, and the 2012B bonds are due in 2013.

The bonds (A2/A+/) will be sold through Citigroup Global Markets Inc.

Proceeds will be used to refund the district's series 2003A certificates of participation.

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