California Academy of Sciences to sell $287.89 million bonds Thursday

By Sheri Kasprzak

New York, July 18 - The California Academy of Sciences intends to price $287.89 million in series 2008 variable-rate demand revenue bonds on Thursday, a sellside source told Prospect News.

The sale includes $95.605 million in series 2008A bonds, $60.165 million in series 2008B bonds, $48.29 million in series 2008C bonds, $34.52 million in series 2008D bonds, $24.655 million in series 2008E bonds and $24.655 million in series 2008F bonds.

The bonds (A2) will be sold through the California Infrastructure and Economic Development Bank on a negotiated basis with JPMorgan as the senior manager.

Proceeds from the deal will be used to refund the academy's outstanding series 2003A, 2005A and 2005B bonds, as well as to fund a portion of capital project costs and provide working capital for the academy.

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