July 30, 2013 / 9:27 PM / 4 years ago

California sets Aug. 14-15 for $5.5 bln note sale

SAN FRANCISCO, July 30 (Reuters) - California will sell $5.5 billion of revenue anticipation notes on Aug. 14 and Aug. 15 to borrow for its short-term cash needs, the state treasurer’s office said on Tuesday.

The sale includes a one-day order period for retail investors on Aug. 14 while the notes will price on Aug. 15 after institutional investors place orders, the office said in a statement.

The RANs on sale are much less than last year’s $10 billion offering.

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