Retail investors order $773.7 mln of California bonds
SAN FRANCISCO, April 10
SAN FRANCISCO, April 10 (Reuters) - Retail investors placed orders on Wednesday totaling $773.7 million for the $2.05 billion in tax-exempt general obligation bonds offered by California, according to State Treasurer Bill Lockyer's office.
Retail orders equaled 37.7 percent of the total offering, which began Wednesday morning and includes about $1.25 billion of new money bonds for public works projects and about $802.0 million of refunding bonds, the office said in a statement.
Key preliminary yields quoted to retail investors included 1.18 percent for a five-year maturity, 2.33 percent for a 10-year maturity and 4.00 percent for a 30-year maturity. Final pricing for the bonds is scheduled for Thursday after institutional investors place orders.