The Regents is expected to come to market with $2 billion1 in General Revenue 2026 Series CE and 2026 Series CF Bonds, (collectively, the "Series CE-CF Bonds".)
Proceeds of the Series CE-CF Bonds will be used to finance or refinance all or a portion of certain projects of the University of California, including the refunding of the Refunded Bonds, as defined in the Preliminary Official Statement.
The Series CE-CF Bonds are limited obligations of The Regents, payable solely from General Revenues, the proceeds of the Bonds and any other amounts held in any fund or account established pursuant to the Indenture (excluding the Rebate Fund). The Series CE-CF Bonds and all other Bonds issued pursuant to the Indenture are entitled to the equal benefit, protection and security of the pledge and covenants and agreements of the Indenture. The Indenture permits The Regents to incur additional Indebtedness secured by a pledge and lien on General Revenues senior in priority, or on a parity, or subordinate in priority with the pledge and lien of the Indenture. The Series CE-CF Bonds will not constitute a liability of or a lien upon the funds or property of the State of California or of The Regents, except to the extent of the aforementioned pledge and lien of the Indenture. The Regents has no taxing power. See the Preliminary Official Statement for more details.
The Series CE-CF Bonds are subject to redemption prior to maturity as described in the Preliminary Official Statement. The bonds are rated "Aa2" by Moody's, "AA" by S&P", and "AA" by Fitch.2
Key benefits
The bond sale offers attractive benefits to individual investors including prices and yields that match those available to institutional investors and the potential for stable income through the call dates. And, for State of California residents, federal and State of California tax-exemption on the bond coupon payments.
How to place an order
The offer is expected to price the week of February 24, 20261, although market conditions and/or the discretion of the issuer may alter the anticipated timeline. Individual investors can place orders online or by calling a Fidelity representative at 800-544-5372. To stay up-to-date on pricing, credit rating changes, and more, please sign up for Fidelity Alerts and see our Municipal Bond New Issue Offerings.
