New York Liberty Development plans $1.63 billion 3 World Trade bonds

By Sheri Kasprzak

New York, Oct. 15 – The New York Liberty Development Corp. is set to price $1.63 billion of series 2014 3 World Trade Center revenue bonds, according to a preliminary official statement.

The offering is being made to qualified institutional buyers under Rule 144A.

The deal includes $1.08 billion of class 1 bonds, $300 million of class 2 bonds and $250 million of class 3 bonds.

The bonds will be sold on a negotiated basis with Goldman Sachs & Co. and J.P. Morgan Securities LLC as the senior managers. The co-managers for the class 1 and class 2 bonds are Siebert Brandford Shank & Co. LLC and BofA Merrill Lynch.

The class 1 bonds are due Nov. 15, 2044, and the class 2 bonds are due Nov. 15, 2041. The class 3 bonds are due Nov. 15, 2044.

Proceeds will be used to finance the completion and construction of Tower 3 of the World Trade Center.

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