Port Authority to Sell $1 Billion in Taxable Debt for WTC
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The Port Authority of New York and New Jersey, which boosted fares on bridges, tunnels and PATH trains yesterday, plans to sell $1 billion in 40-year debt to help finance construction at the World Trade Center site.
The negotiated sale of the taxable bonds maturing in 2051, slated for next week, will be managed by Citigroup Inc., according to data compiled by Bloomberg.