A bond sale worth $1.3 billion to help finance the reconstruction of the World Trade Center site in lower Manhattan has been postponed, Financial Times reports. The issuer, New York Liberty Development, had restructured the sale as $900 million of fixed-rate, tax-exempt munis and $375 million of floating-rate debt to keep the total interest cost at about 5%. The bond sale, which was expected to price this week, was delayed due to “market considerations.” Silverstein Properties, a developer, and the Port Authority of New York and New Jersey, which owns the land, had deferred the bond sale twice.
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