California announces defeasance of $491.61 million of G.O. bonds

By Ashley Montgomery

Kansas City, Kan., April 24 - The State of California has defeased portions of its general obligation bonds, totaling $491.61 million, according to a notice.

The following affected bonds will be redeemed on Oct. 1:

• $22.03 million of 5% bonds due Oct. 1, 2013;

• $22.8 million of 5% bonds due Oct. 1, 2014;

• $23,655,000 of 5% bonds due Oct. 1, 2015;

• $24,605,000 of 5% bonds due Oct. 1, 2016;

• $25,585,000 of 5% bonds due Oct. 1, 2017;

• $26.64 million of 5% bonds due Oct. 1, 2018;

• $27.74 million of 5.25% bonds due Oct. 1, 2019;

• $28.92 million of 5.25% bonds due Oct. 1, 2020;

• $30,145,000 of 5% bonds due Oct. 1, 2021;

• $10,705,000 of 5% bonds due Oct. 1, 2022; and

• $21,135,000 of 4.5% bonds due Oct. 1, 2023.

The following affected bonds will be redeemed Aug. 1, 2013:

• $25,965,000 of 5.25% bonds due Feb. 1, 2015;

• $25,955,000 of 5.25% bonds due Feb. 1, 2016;

• $30.46 million of 5.25% bonds due Feb. 1, 2017;

• $10,415,000 of 4.3% bonds due Feb. 1, 2018;

• $25,285,000 of 5.25% bonds due Feb. 1, 2018;

• $5,965,000 of 4.4% bonds due Feb. 1, 2019;

• $31,885,000 of 5.25% bonds due Feb. 1, 2019;

• $14,135,000 of 5.25% bonds due Feb. 1, 2020;

• $1,405,000 of 5.25% bonds due Feb. 1, 2021; and

• $14.28 million of 5.25% bonds due Feb. 1, 2022.

The following affected bonds will be redeemed on Nov. 1, 2013:

• $32.22 million of 5.25% bonds due Nov. 1, 2017; and

• $9.68 million of 5.25% bonds due Nov. 1, 2018.

All of the bonds will be redeemed at par.

The state's treasurer is the agent.

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