ALAMEDA, Calif. — Facing soaring yields in the tax-exempt bond market, California chopped more than $1 billion from its tax-exempt debt plans for next week, while upsizing today’s Build America Bond pricing by $1.275 billion.

The new schedule now calls for California to price $3.275 billion of taxable GO bonds today. The state previously added $750 million to the BABs sale and Thursday added another $525 million.

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