Skip to content
Subscriber Only

Silverstein Sells $1.6 Billion in Unrated Debt for 3 WTC

Updated on

Developer Larry Silverstein sold $1.6 billion of tax-exempt bonds to finance the construction of 3 World Trade Center, the largest-ever unrated deal in the municipal market.

Goldman Sachs Group Inc., which managed today’s offer, sold about $1.1 billion of senior bonds maturing in 30 years to yield 5 percent, or about 1.9 percentage points above benchmark debt, data compiled by Bloomberg show.