July 25, 2012 / 4:41 PM / 5 years ago

UPDATE 1-NY Liberty Development to sell $1.65 bln of rev bonds

(Adds details and background)

July 25 (Reuters) - The New York Liberty Development Corp will sell about $1.65 billion of new and refunding revenue bonds during the week of July 30, a market source said on Wednesday.

The sale includes about $338 million of new bonds to be sold in four series all due on Dec. 1, 2050, and about $1.2 billion of refunding bonds to be sold in three series all maturing on Dec. 1, 2049, according to the preliminary official statement.

These bonds are issued for the 3 World Trade Center Project.

The sale will include about $113 million of refunding bonds for the 3 World Trade Center Project-Towers 3 and 4, and will be sold in three series all maturing on Dec. 1, 2049, according to the preliminary official statement.

Goldman Sachs & Co is the lead manager on the sale.

The last time that The Liberty Development Corp sold bonds through a negotiated sale was in March, when it issued $450 million of Liberty revenue refunding bonds for the 7 World Trade Center Project through lead manager JP Morgan. (Reporting by Caryn Trokie; Editing by Jan Paschal)

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