Deficit-Ridden California Embarks on Tobacco Trip, Starting With $3 Billion

Finestone, Deborah
January 2003
Bond Buyer;1/6/2003, Vol. 343 Issue 31546, p6
Trade Publication
Reports on the plans of California state to issue two tobacco bond sale deals as part of a $3 billion securitization of the national tobacco settlement funds pricing on January 15, 2003. Comments of assistant program budget manager in the state department of finance Jim Tilton on marketing of variable and fixed-rate portion of the deal; Approval of the bond deals by the state lawmakers; Credit ratings of the deals.


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