California Department of Water Resources to redeem $850 million in series 2002, 2005 bonds

By Sheri Kasprzak

New York, March 24 - The California Department of Water Resources plans to redeem $850 million of its series 2002 and 2005 power supply revenue bonds, according to a notice of redemption released Monday.

The bonds to be redeemed include $200 million in series 2002C-2 bonds due 2022, $50 million in series 2002C-3 bonds due 2022 and $300 million in series 2005G-10 bonds due 2018, all of which will be redeemed on April 1.

Also to be redeemed are $100 million in series 2002D-3 bonds due 2022, which will be redeemed April 16. The department's $100 million in series 2002D-4 due 2022, which will be redeemed April 23, and $100 million in series 2002D-5 bonds due 2022, which will be redeemed April 30, are also impacted.

All of the bonds will be redeemed at par, according to the notice.

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