New York Liberty stops redemption of World Trade Center Project bonds

By Marisa Wong

Madison, Wis., Dec. 10 - New York Liberty Development Corp. has rescinded the planned redemption of $2.59 billion of its World Trade Center Project Multi-Modal Liberty revenue bonds, series 2009A-1, 2009A-2 and 2009B, according to a notice.

The bonds will no longer be redeemed on Dec. 17 at par plus accrued interest to the redemption date.

Affected are $1.277 billion of 2009A-1 bonds, $1.303 billion of 2009A-2 bonds and $13.545 million of 2009B bonds.

The Bank of New York Mellon is the trustee.

The New York development company was established to rebuild the World Trade Center and redevelop lower Manhattan.

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