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Article: San Francisco Redevelopment Bonds Seen as Jump Start for Calif. TABs.(The Regions)
- Article from:
- The Bond Buyer
- Article date:
- August 24, 2009
CopyrightCOPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Rich Saskal
SAN FRANCISCO - A slate of San Francisco redevelopment deals last week could help revive a sluggish market for California tax allocation bonds, the underwriter believes.
The San Francisco Redevelopment Financing Authority priced $168 million of uninsured tax allocation bonds in four different series last week.
"We had a lot of institutional buyers, and buyers who were on the sidelines jumped in," said John Kim, principal at De La Rosa & Co., lead manager for the three-series, $93.1 million tax-exempt side of the deal. Piper Jaffray & Co. was lead manager for a $75 million taxable series.
Kim said the deals should ...