California sold $5 billion in short-term municipal notes Thursday in a deal that helps the state meet its cash flow needs and one that was upsized twice in the past 24 hours due to strong investor demand.
California split the offering into two tranches, with $1.2 billion maturing on May 20, 2009, and yielding 3.75%, and $3.8 billion maturing on June 22, 2009, and yielding 4.25%.
“The success of this deal far surpassed all expectations,” said Bill Lockyer, California’s state treasurer, in a statement.
Posts Tagged ‘Bond Market’
October 16th, 2008 3 comments