Individual investors grab big chunk of state’s bonds in new sale

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Update on the California tax-free-bond sale launched today: At noon Pacific time, the state said it already had retail orders for 43%, or $750 million, of the $1.75-billion offering of general-obligation bonds.

The state is taking individual-investor orders (through brokerages) until 5 p.m. The retail order period for the bonds is supposed to go through Wednesday, but Treasurer Bill Lockyer could shorten that if demand remains robust.

For the preview item I wrote on the bond sale, look below or go here.