California state bonds sell briskly (LA Times)
By Marc Lifsher
March 1, 2012, 3:44 p.m.
Demand for California general obligation bonds was strong during a just-finished three-day sale, state Treasurer Bill Lockyer reported.
The state sold $930.7 million in bonds, ranging in maturities from five to 26 years, to retail customers Tuesday and Wednesday. That represented 47% of the $1.98-billion offering.
The remaining bonds were sold to institutional investors Thursday.
"We were hoping for strong demand, and we weren't disappointed," Lockyer said.
The bonds are being sold to refinance existing debt and proceeds are not being used to pay for new infrastructure, the treasurer's office said.
http://www.latimes.com/business/money/la-fi-mo-california-state-bonds-sell-briskly-20120301,0,6841977.story