By Cristal Cody
Tupelo, Miss., Oct. 30 – New York Liberty Development Corp. priced $1.59 billion of series 2014 3 World Trade Center revenue bonds, according to a pricing sheet.
The deal included $1.08 billion of 5% class 1 bonds due Nov. 15, 2044 priced at par.
In the class 2 tranche, the agency sold $278 million of class 2 bonds due Nov. 15, 2034 and Nov. 15, 2040 at par to yield 5.15% to 5.375%.
The deal also included $231 million of 7.25% class 3 bonds due Nov. 15, 2044 priced at par.
The bonds were sold on a negotiated basis with Goldman Sachs & Co. and J.P. Morgan Securities LLC as the senior managers.
The offering was made to qualified institutional buyers under Rule 144A.
Proceeds will be used to finance the completion and construction of Tower 3 of the World Trade Center.
| Issuer: | New York Liberty Development Corp./3 World Trade Center
|
| Issue: | Revenue bonds
|
| Amount: | $1,589,000,000
|
| Type: | Negotiated
|
| Underwriters: | Goldman Sachs & Co. and J.P. Morgan Securities LLC (lead); Siebert Brandford Shank & Co. LLC and BofA Merrill Lynch (co-managers for class 1 and class 2 bonds)
|
| Pricing date: | Oct. 29
|
| Settlement date: | Nov. 20
|
| Distribution: | Rule 144A
|
|
|
| $1.08 billion class 1 bonds
|
| Maturity | Type | Price | Coupon Yield
|
| 2044 | Term | Par | 5% | 5%
|
|
|
| $278 million class 2 bonds
|
| Maturity | Type | Price | Coupon Yield
|
| 2034 | Term | Par | 5.15% | 5.15%
|
| 2040 | Term | Par | 5.375% | 5.375%
|
|
|
| $231 million class 3 bonds
|
| Maturity | Type | Price | Coupon Yield
|
| 2044 | Term | Par | 7.25% | 7.25%
|
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