California Sells $300 Million in Bonds for High-Speed Passenger Train
By Paulo Trevisani
California sold $300 million in variable rate general obligation bonds to finance projects under the state's Bond Act.
The State of California High-Speed Passenger Train Bonds includes $150 million in Series 2024C1 bonds maturing in May 1, 2046; $75 million in Series 2024C2 maturing May 1, 2047, and $75 million in Series 2024C3 bonds maturing May 1, 2048, according to a document published Thursday on MuniOS.
The tax-exempt bonds will pay interest at a variable rate.
The bonds are to be paid with resources from California's General Fund.
Moody's Investors Service has assigned a rating of Aa1 to the bonds. Fitch Ratings rated them AA and S&P Global Ratings had them at AA+.
BofA Securities, Piper Sandler and Raymond James are underwriters.
Write to Paulo Trevisani at paulo.trevisani@wsj.com
(END) Dow Jones Newswires
October 04, 2024 15:04 ET (19:04 GMT)
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