California Infrastructure preps $195.81 million refunding bond deal

By Sheri Kasprzak

New York, July 29 - The California Infrastructure and Economic Development Bank is expected to price $195,805,000 of series 2013 refunding revenue bonds for the California Independent System Operator Corporation project, according to a preliminary official statement.

The bonds (A1/A/AA-) will be sold on a negotiated basis with RBC Capital Markets LLC and Citigroup Global Markets Inc. as the senior managers.

The bonds are due 2015 to 2030 with term bonds due in 2034 and 2039.

Proceeds will be used to advance refund the development bank's series 2009A revenue bonds.

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