California School Cash Reserve Program to price $576.22 million bonds

By Sheri Kasprzak

New York, June 5 - The California School Cash Reserve Program Authority is scheduled to price $576.215 million in series 2009 senior and subordinate bonds during the week of June 8, according to a calendar of upcoming sales.

The deal includes $518.59 million in series 2009A senior bonds and $57.625 million in series 2009A subordinate bonds.

The bonds (MIG1/SP-1+/) will be sold through senior manager Piper Jaffray & Co.

The senior bonds are due 2009 to 2010 and the subordinate bonds are due 2010 to 2019.

Proceeds will be used to fund school programs throughout the state.

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