New York Liberty to price $2.59 billion World Trade Center revenue refunding bonds

By Sheri Kasprzak

New York, Oct. 7 - The New York Liberty Development Corp. plans to come to market with $2,593,500,000 of series 2011 multi-modal liberty revenue refunding bonds for the World Trade Center project, according to a preliminary official statement.

The deal includes $2,573,190,000 of series 2011A bonds and $20.31 million of series 2011B bonds.

The bonds will be sold through Goldman Sachs & Co.

The bonds are due Dec. 1, 2049. The 2011A bonds will bear interest at a fixed rate, and the 2011B bonds will bear interest initially at the weekly rate.

Proceeds will be used to construct five new skyscrapers, a retail center, a transportation hub, a performing arts center and the National September 11 Memorial and Museum at the World Trade Center site.

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