By Cristal Cody
Prospect News, April 21 - New York Liberty Development Corp. priced $2.5 billion of revenue bonds (Aaa//AAA) due Nov. 1, 2011 at par to yield 0.37% on Thursday, a municipal bond source said.
The deal had been postponed since December on climbing interest rates and priced late in the day ahead of the long weekend.
The bonds were sold for Silverstein Properties Inc.
Goldman Sachs & Co. managed the negotiated sale.
Proceeds will be used to finance the 4 World Trade Center project.
New York-based Liberty Development is an arm of the Empire State Development Corp.
| Issuer: | New York Liberty Development Corp./Silverstein Properties Inc.
|
| Amount: | $2.5 billion
|
| Maturity: | Nov. 1, 2011
|
| Securities: | Revenue bonds
|
| Bookrunner: | Goldman Sachs & Co.
|
| Coupon: | 0.37%
|
| Price: | Par
|
| Yield: | 0.37%
|
| Pricing date: | April 21
|
| Ratings: | Moody's: Aaa
|
| Fitch: AAA
|
| Distribution: | United States
|
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