Bonds

Bond Offering

State Public Works Board Lease Revenue Bonds 2025 Series C (Tax-Exempt) and 2025 Series D (Federally Taxable Bonds)

State Public Works Board Lease Revenue Bonds 2025 Series C (Tax-Exempt) and 2025 Series D (Federally Taxable Bonds)

Par Amount
$680,000,000
Sale Date
10/21/2025
Sector
State / Province
State
California
Method of Sale
Negotiated
Retail Order Period Begins
10/20/2025

Book-Running Joint Senior Manager

J.P. Morgan Securities LLC
J.P. Morgan
(855) 231-8873

Joint Senior Manager

BofA Securities, Inc.
Rob East
(800) 937-0616

Co-Senior Manager

Stern Brothers & Co.
David Hubeli
(314) 743-4012

Co-Manager

Academy Securities, Inc.
Mike Murray
(919) 869-8291
American Veterans Group, PBC
Jose Franco
(559) 740-8924
Barclays Capital Inc.
Carmen Vargas
(310) 481-4929
Cabrera Capital Markets, LLC
Merita Kulpinski
(312) 931-6654
D.A. Davidson & Co.
Tom Innis
(415) 848-6708
Essex Securities LLC
Prakash Gupta
(201) 777-7121
Fidelity Capital Markets
(800) 972-2155
FHN Financial Capital Markets
Ajay Thomas
(512) 636-8007
Hilltop Securities Inc.
(214) 953-4000
Jefferies LLC
Roy Carlberg
(212) 336-7151
Loop Capital Markets LLC
Tamara Maldonado
(312) 913-4900
Mischler Financial Group, Inc.
Scott C. Kersh
(949) 720-0640
Piper Sandler & Co.
Tom Tisell
(612) 303-6658
PNC Capital Markets LLC
Mark Denick
(215) 585-1441
Ramirez & Co., Inc.
Samuel Ramirez
(212) 248-0528
Raymond James & Associates, Inc.
Christopher Mukai
(424) 313-1201
RBC Capital Markets, LLC
Glenn McGowan
(212) 519-8415
Rice Financial Products Company
Tim Barbera
(212) 908-9260
Stifel, Nicolaus & Company, Incorporated
Vince Lazalde
(415) 364-5934
TD Securities (USA) LLC
*The offerings above may from time to time include obligations payable solely or primarily from sources other than the State’s General Fund.  As described herein, the financial documents and other materials on this website generally relate to the State’s General Fund, which is the source of payment for State General Obligation Bonds (non-self liquidating) and primarily but not exclusively the source of payment for State Public Works Board Lease Revenue Bonds. The particular source of security and payment for each bond offering is described in the official statement for the bond offering, which should be read in its entirety.