California Stem Cell Debt: Refinancing $146 Million
The state of California is planning a $2.2 billion bond sale next week with about $146 million of it going to refinance debt run up by the California stem cell agency.
The new, long-term borrowing will pay off short-term debt used for stem cell research over the last two years.
The $3 billion agency was set up to subsist on money borrowed long-term by the…
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