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A diverse investor base is among market characteristics seen as important for growth. -
Proceeds from the bond will be used to fund IBRD projects.
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The carrier has priced the Class A tranche at 500 bps.
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Pricing on the Class A notes is at the lower edge of guidance.
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The pricing guidance is now 550-575 basis points.
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This year, the association’s funding will come to $4.05bn with a $2.45bn retention.
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The RfP covers the CEA and/or the California Wildfire Fund.
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The carrier has added $5mn to the target limit bringing it to $105mn.
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Managers are hoping strong returns in 2023 will aid capital raising efforts.
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Pockets of new capital will not shift pricing at mid-year.
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Pricing on the Class A notes moved toward the lower edge of guidance.
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The state carrier is moving to redeem its 2022 Everglades issuance a year early.
