California bond sale refinances more than $1 billion

State Treasurer John Chiang today announced successfully completing the sale of $1.9 billion in State general obligation bonds, which included the refinancing of more than $1 billion in previously-issued bonds.

“Despite investors’ concerns over future interest rates, this week’s sale showed a healthy appetite for California paper,” Chiang said. “Recent credit upgrades have increased the market’s confidence in the State’s credit worthiness and individual and institutional investors alike eagerly got behind California.”

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