California plans redemption of $258 million general obligation bonds

By Devika Patel

Knoxville, Tenn., Aug. 31 - California said it will redeem $258 million of its general obligation bonds on Sept. 1.

The bonds to be redeemed are the $12.9 million in 5% bonds due 2010, the $12.9 million in 5% bonds due 2011, the $12.9 million in 5.13% bonds due 2012, the $12.9 million in 5.25% bonds due 2013, the $12.9 million in 5.3% bonds due 2014, the $12.9 million in 5.4% bonds due 2015, the $12.9 million in 5.5% bonds due 2016, the $12.9 million in 5.5% bonds due 2017, the $12.9 million in 5.5% bonds due 2018, the $12.9 million in 5.5% bonds due 2019, the $12.9 million in 5.5% bonds due 2020, the $51.6 million in 5.5% bonds due 2024 and the $64.5 million in 5.5% bonds due 2029.

Holders will receive 101% of par plus accrued interest to the redemption date.

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