California is planning raise $8 billion through a sale of debt during the week, Financial Times reports. Starting September 13, the state is selling about $5.4 billion of so-called revenue anticipation notes (RAN).

On September 16, it will begin the sale of approximately $2.6 billion of general obligation bonds. The proceeds from the RAN sale will be used to pay back a $5.4 billion bridge loan the state secured on July 26 from eight banks, adds The Wall Street Journal.

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