Preparation Combine all ingredients in large saucepan. Bring to boil over high heat, stirring until sugar dissolves. Reduce heat to medium and cook until liquid is medium-thick syrup and sauce is reduced to 2 2/3 cups, stirring occasionally, about 12 minutes. Transfer sauce to a bowl. Refrigerate until cold, about 3 hours. (Can be prepared 1 week ahead. cover; keep chilled.)
Preparation Combine all ingredients in large saucepan. Bring to boil over high heat, stirring until sugar dissolves. Reduce heat to medium and cook until liquid is medium-thick syrup and sauce is reduced to 2 2/3 cups, stirring occasionally, about 12 minutes. Transfer sauce to a bowl. Refrigerate until cold, about 3 hours. (Can be prepared 1 week ahead. cover; keep chilled.)