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November 17, 2009
NY agency to start marketing Brooklyn arena bonds
Reuters is reporting that the ESDC expects to float the triple tax exempt bonds for the Atlantic Yards arena:
"Forest City Ratner Companies, along with Goldman Sachs, is in talks with rating agencies and finalizing the bond structure," a spokeswoman for the Empire State Development Corporation said by email. "The offering statement is being finalized; we expect to release bond terms in the next two weeks."
Well, "expect to" is not the same as "will." First, it's not clear whether the ratings agencies are on board. And surely the bond sale would go more smoothly if a Court of Appeals decision comes down--as is expected, in the coming weeks--in that pesky eminent domain case.
Posted by lumi at November 17, 2009 6:26 AM