By Sheri Kasprzak
New York, Dec. 1 - The New York Liberty Development Corp. sold $672.48 million of series 2011 One World Trade Center liberty revenue bonds on Thursday, according to a term sheet.
The bonds were sold through J.P. Morgan Securities LLC and Citigroup Global Markets Inc. The co-managers were Loop Capital Markets LLC, M.R. Beal & Co. Inc., Ramirez & Co. Inc., Rice Financial Products Co., Siebert Brandford Shank & Co. LLC and Wells Fargo Securities LLC.
The bonds are due on Dec. 15, 2041 and Dec. 15, 2043. The 2041 bonds have a 5% coupon priced at 102.776, and the 2043 bonds have a 5.25% coupon priced at 105.581.
Proceeds will be used to purchase consolidated bonds issued by the Port Authority of New York and New Jersey for the construction and design of One World Trade Center, a 104-story building in lower Manhattan.
| Issuer: | New York Liberty Development Corp.
|
| Issue: | Series 2011 One World Trade Center liberty revenue bonds
|
| Amount | $672.48 million
|
| Type: | Negotiated
|
| Underwriters | J.P. Morgan Securities LLC and Citigroup Global Markets Inc. (lead), Loop Capital Markets LLC, M.R. Beal & Co. Inc., Ramirez & Co. Inc., Rice Financial Products Co., Siebert Brandford Shank & Co. LLC and Wells Fargo Securities LLC (co-managers)
|
| Pricing date: | Dec. 1
|
| Settlement date: | Dec. 8
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $300 million | Dec. 15, 2041 | Term | 5% | 102.776
|
| $372.48 million | Dec. 15, 2043 | Term | 5.25% | 105.581
|
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