California Completes $5.4 Billion Cash Note Sale a Day Early

California wrapped up the sale of $5.4 billion of revenue-anticipation notes a day earlier than planned, according to Tom Dresslar, a spokesman for Treasurer Bill Lockyer.

Individual investors ordered 66 percent of the notes, or $3.55 billion, Dresslar said today in an e-mailed statement. A tranche maturing May 24, 2012, was priced at 0.38 percent, while the bulk of the bonds, maturing June 26, were offered at 0.40 percent, he said.

To contact the reporter on this story: Michael B. Marois in Sacramento at mmarois@bloomberg.net

To contact the editor responsible for this story: Pete Young at pyoung13@bloomberg.net

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