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December 15, 2009
FOREST CITY ENTERPRISES PRESS RELEASE: Forest City Announces Pricing of $511 Million Tax-Exempt Bonds for Barclays Center at Atlantic Yards
CLEVELAND, Dec. 15 -- Forest City Enterprises, Inc. (NYSE: FCEA and FCEB) today announced the pricing of $511 million of tax-exempt bonds to finance a portion of the construction of the Barclays Center arena at the Company's Atlantic Yards project in Brooklyn. The interest rate on the bonds was 6.48%.
"We're very pleased at the strong level of interest shown by investors in these bonds," said Charles A. Ratner, Forest City president and chief executive officer. "Demand far exceeded the total dollar volume of the bonds being marketed, a demonstration of support and confidence in the arena, in Atlantic Yards and in the future of Brooklyn. I congratulate our New York team and our advisors, and thank our public partners as we take this important next step in making this great project a reality."
Co-lead underwriters for the bond offering were Goldman Sachs and Barclays Capital.
Posted by eric at December 15, 2009 8:56 PM