California development authority to price $225 million student housing bonds July 31

By Sheri Kasprzak

New York, July 7 - The California Statewide Communities Development Authority expects to price $225 million in series 2008 student housing revenue bonds on July 31, said James Hamill, program manager for the authority.

The bonds (Baa2) will be sold on a negotiated basis with Lehman Brothers as the senior manager.

The bonds are expected to have a serial structure with term bonds, though the maturity dates have not been set.

Proceeds will be used for construction of the University of California at Irvine East Campus Apartments - Phase 2.

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