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California Public Works Board offers $600 million lease revenue bonds
By Sheri Kasprzak
New York, Oct. 12 - The State Public Works Board of the State of California plans to price $600.17 million of series 2012 lease revenue bonds, according to a preliminary official statement.
The deal includes $458.89 million of series 2012G various capital projects lease revenue bonds, $53,485,000 of series 2012H Department of Education Riverside Campus projects lease revenue bonds, $67,195,000 of series 2012I Department of Corrections and Rehabilitation California State Prison lease revenue refunding bonds and $20.6 million series 2012J Department of Public Health Richmond Laboratory project lease revenue refunding bonds.
The bonds (A2/BBB+/BBB+) will be sold through Loop Capital Markets LLC and Stone & Youngberg.
The co-managers are Alamo Capital, BNY Mellon Capital Markets LLC, Backstrom McCarley Berry & Co. LLC, Cabrera Capital Markets LLC, City National Securities LLC, Edward D. Jones & Co. LP, Fidelity Capital Markets LLC, Greencoast Capital Partners LLC, J.P. Morgan Securities LLC, Mesirow Financial Inc., Morgan Stanley & Co. LLC, O'Connor & Co. Securities, Oppenheimer & Co. Inc., RBC Capital Markets LLC, SL Hare Capital and Wells Fargo Securities LLC.
The maturities have not been set.
Proceeds will be used to construct, equip, acquire and renovate a correctional facility, courthouses, toxic substances treatment plants; renovate the California School for the Deaf in Riverside; and refund existing lease revenue bonds.
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