Port Authority of New York and New Jersey to sell $1 billion bonds

By Sheri Kasprzak

New York, Sept. 19 - The Port Authority of New York and New Jersey plans to sell $1 billion of 168th series consolidated bonds, according to a preliminary official statement.

The bonds will be sold on a negotiated basis with Citigroup Global Markets Inc. as the senior manager. The co-managers are BB&T Capital Markets; Bank of America Merrill Lynch; Drexel Hamilton LLC; Jackson Securities LLC; J.P. Morgan Securities LLC; Lebenthal & Co. LLC; Morgan Stanley & Co. LLC; Rice Financial Products Co.; and Williams Capital Group LP.

The bonds are due Oct. 1, 2051.

Proceeds will be used for capital expenditures related to One World Trade Center, as well as other expenditures related to the World Trade Center site.

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