California State University puts off $403 million systemwide revenue bonds until Wednesday

By Sheri Kasprzak

New York, March 18 - The Trustees of the California State University have postponed the sale of $403 million in series 2008A systemwide revenue bonds until Wednesday, said the issuer's financial manager, Rosa Renaud.

The bonds (/AA-/A+) had been set to price on Tuesday.

The bonds are set to sell on a negotiated basis through lead manager Lehman Brothers with co-managers E.J. De La Rose & Co., Fidelity Capital Markets Services, Morgan Stanley, Nollenberger Capital Markets, Rice Financial Products Co., Toussant Capital Partners, SL Hare Capital, Wells Fargo Institutional Services and UBS Investment Bank.

Proceeds from the sale will be used to finance or refinance the construction, acquisition, improvement and renovation of campus buildings.

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