What is the opportunity?
The Trustees of the California State University (the "Board") is expected to come to market with $1,144 million1 in Systemwide Revenue Bonds, Series 2017A and Taxable Series 2017B (the "Series 2017 Bonds").
The Board is issuing the Series 2017 Bonds for the purpose of providing funds to finance and refinance the acquisition, construction, renovation and improvement of certain facilities of the California State University and to refinance certain prior bonds to achieve debt service savings.
The Series 2017 Bonds are being issued on parity with other bonds of the Board that have been issued previously or may be issued in the future pursuant to the Indenture. The pledge of and lien on the Gross Revenues under the Indenture secures bonds issued under the Indenture on a parity basis and is senior to other indebtedness of the Board.
Traditionally, municipal bonds will be subject to optional call features, and term bonds will generally have a Mandatory Sinking Fund feature. Please review the structure on the day of the pricing before placing an order.
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 call dates. And, for California residents, federal and state tax-exemption on Series A bonds. Series B bonds are federally taxable.
How to place an order
The offering is expected to price the week of February 61, although market conditions and/or the discretion of the issuer may alter the anticipated timeline. Individual investors can place orders onlineLog In Required 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 AlertsLog In Required and see our Municipal Bond New Issue Offerings.