The Vault

Calendar of recent and upcoming public finance activities and bond sales

April 11

State of California General Obligation (GO) Bonds ($2.02 billion)

The State Treasurer on April 11 announced the sale of $2.02 billion of State of California general obligation (GO) bonds, which included $1.63 billion of bonds used to refinance more than $1.88 billion of bonds issued in April 2009 when the State was experiencing budget challenges and interest rates were higher. Refinancing of the old debt will save taxpayers more than $403 million in debt service costs over the next 10 years, or more than $362 million on a present value basis. These savings along with the savings from the State’s March GO bond sale will save taxpayers more than $1.42 billion over the next 19 years.

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More information about the upcoming spring bond sales is at BuyCaliforniaBonds.com. News…from the desk of Calfornia State Treasurer Fiona Ma is prepared by staff of the State Treasurer’s Office. This newsletter is not intended to be and should not be used for making investment decisions about State of California bonds or notes. The bond issuances described (including the amounts and timing thereof) are subject to change or cancellation based on market conditions or other factors as determined by the State Treasurer. Potential investors always should obtain and read the Official Statement published by the State for each issue of bonds or notes.