LA
05/10/2010 05:12 am ET Updated May 25, 2011

California Bond Sale Draws Heavy Demand

Yield-hungry individual investors have snapped up nearly two-thirds of California's $2-billion tax-free bond offering, which the state launched on Tuesday.

As of 10 a.m. Wednesday, the state had orders for $1.29 billion of the general-obligation bonds, or 65% of the total, according to Joe DeAnda, a spokesman for Treasurer Bill Lockyer in Sacramento.

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