Glut or No, California Keeps Coming; LIPA Selling $518 Million

Albano, Christine
April 2003
Bond Buyer;4/21/2003, Vol. 344 Issue 31618, p6
Trade Publication
Despite the recent oversupply of California supply and the ongoing credit problems over that market, yet another giant deal from the Golden State Co. will move slowly, into the primary arena, along with some manageable offerings from New York, Detroit, Denver, and Arizona issuers. Although many investors may have already filled up with California's general obligation credit, the state will nevertheless return to the market with a 1.85 billion dollars various-purpose general obligation deal priced by Merrill Lynch & Co. Bonds will mature serially from 2008 to 2028, and term bonds will be available in 2030 and 2033.


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