Museum of Modern Art, N.Y., plans $280 million revenue bond offering

By Sheri Kasprzak

New York, July 19 – The Trust for Cultural Resources of the City of New York is set to price $280 million of series 2016-1E revenue bonds for the Museum of Modern Art, according to a preliminary official statement.

The bonds (Aa2/AA) will be sold through senior manager Goldman, Sachs & Co.

The maturities have not been set.

Proceeds will be used to construct, plan, acquire and equip a new museum facility on West 53rd Street in Manhattan, as well as to refund existing debt issued by the trust for the museum.

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