State of California defeases $710.24 million general obligation bonds

By Tali Rackner

Norfolk, Va., March 27 - The State of California defeased $710,235,000 of its general obligation bonds, according to two notices.

The following bonds, totaling $388.79 million, will be redeemed at par plus accrued interest on May 1:

• $1,235,000 of 4.1% bonds due April 1, 2015;

• $2.8 million of 4.4% bonds due April 1, 2015;

• $730,000 of 4.2% bonds due April 1, 2016;

• $1.19 million of 4.5% bonds due April 1, 2016;

• $300,000 of 4.3% bonds due April 1, 2017;

• $120,000 of 4.375% bonds due April 1, 2018;

• $85,000 of 4.7% bonds due April 1, 2018;

• $210,000 of 4.4% bonds due April 1, 2019;

• $360,000 of 4.8% bonds due April 1, 2019;

• $2.82 million of 4.5% bonds due April 1, 2020;

• $805,000 of 4.9% bonds due April 1, 2020;

• $5.26 million of 4.625% bonds due April 1, 2021;

• $8,485,000 of 5% bonds due April 1, 2021;

• $18,875,000 of 5% bonds due April 1, 2022;

• $76,405,000 of 5.125% bonds due April 1, 2023;

• $85,425,000 of 5.125% bonds due April 1, 2024;

• $89.62 million of 5.125% bonds due April 1, 2025;

• $94,065,000 of 5.2% bonds due April 1, 2026.

The following bonds, totaling $321,445,000, will be redeemed at par plus accrued interest on Sept. 1, 2014:

• $11,915,000 of 5% bonds due March 1, 2015;

• $12,515,000 of 5% bonds due March 1, 2016;

• $16.77 million of 4.5% bonds due March 1, 2022;

• $17,605,000 of 4.75% bonds due March 1, 2023;

• $18,485,000 of 4.75% bonds due March 1, 2024;

• $19.41 million of 4.75% bonds due March 1, 2025;

• $20.38 million of 4.75% bonds due March 1, 2026;

• $21.4 million of 5% bonds due March 1, 2027;

• $22.47 million of 5% bonds due March 1, 2028;

• $23,595,000 of 5% bonds due March 1, 2029;

• $24,775,000 of 4.75% bonds due March 1, 2030;

• $26,015,000 of 4.75% bonds due March 1, 2031; and

• $86.11 million of 5% bonds due March 1, 2034.

The Treasurer of the State of California is the escrow agent.

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