CALIFORNIA
California
Oct 30, 2025 $339,385,000
Various Purpose General Obligation Bonds (Bid Group B) (book entry).
Dated Nov 6, 2025.
Due Nov 1, 2027 to 2043.
Callable Nov 1, 2034 at par.
Winning bid: Wells Fargo Corp, at 112.6570, TIC 3.58%.
L.O.: Orrick, Herrington & Sutcliffe, San Francisco, CA.
F.A.: Public Resources Advisory Group, Los Angeles, CA.
Other bidders were:
BofA Securities, TIC 3.5886%
Jefferies, TIC 3.5957%
RBC Capital Mkts, TIC 3.6046%
Morgan Stanley, TIC 3.607%
Barclays Capital, TIC 3.6227%
JPMorgan, TIC 3.6275%
Truist Secs, Inc., TIC 3.6283%
Goldman Sachs, TIC 3.6335%
Raymond James, TIC 3.6462%
TD Financial, TIC 3.6785%
California
Oct 30, 2025 $360,615,000
Various Purpose General Obligation Bonds (Bid Group C) (book entry).
Dated Nov 6, 2025.
Due Nov 1, 2045 to 2055.
Callable Nov 1, 2034 at par.
Winning bid: RBC Capital Mkts, at 107.2398, TIC 4.5054%.
L.O.: Orrick, Herrington & Sutcliffe, San Francisco, CA.
F.A.: Public Resources Advisory Group, Los Angeles, CA.
Other bidders were:
Wells Fargo Corp, TIC 4.506%
BofA Securities, TIC 4.5078%
Morgan Stanley, TIC 4.5082%
Barclays Capital, TIC 4.5229%
JPMorgan, TIC 4.5346%
Goldman Sachs, TIC 4.538%
Jefferies, TIC 4.5466%
Raymond James, TIC 4.5523%
Truist Secs, Inc., TIC 4.5672%
TD Financial, TIC 4.5722%
NEW JERSEY
Hillsborough Township
Oct 30, 2025 $13,055,443
Bond Anticipation Note, Series 2025B (book entry).
Dated Nov 12, 2025.
Due Nov 11, 2026.
Purchased $13,055,443.00 by Piper Sandler, at 3.0%, plus $33,944.15, effective rate 2.7393%.
L.O.: McManimon Scotland & Baumann, Roseland, NJ.
F.A.: NW Financial Group, Bloomfield, NJ.
Other bidders were:
TD Financial, Effective Rate 2.7412%
Jefferies, Effective Rate 2.933%
Truist Secs, Inc., Effective Rate 2.9711%
Oppenheimer, Effective Rate 3.1847%
TAXABLE ISSUES
CALIFORNIA
California
Oct 30, 2025 $301,355,000
Federally Taxable Various Purpose General Obligation Bonds (Bid Group A) (book entry).
Dated Nov 6, 2025.
Due Nov 1, 2032.
Non-callable.
Winning bid: JPMorgan, at 100.4800, TIC 4.2699%.
L.O.: Orrick, Herrington & Sutcliffe, San Francisco, CA.
F.A.: Public Resources Advisory Group, Los Angeles, CA.
Other bidders were:
BofA Securities, TIC 4.2993%
Jefferies, TIC 4.3087%
Raymond James, TIC 4.3186%
Goldman Sachs, TIC 4.3196%
Wells Fargo Corp, TIC 4.32%
RBC Capital Mkts, TIC 4.3246%
Truist Secs, Inc., TIC 4.3336%
Barclays Capital, TIC 4.3728%
TD Financial, TIC 4.3904%
Morgan Stanley, TIC 4.4331%