Silverstein Properties is selling municipal bonds worth $1.275 billion to finance the debt issued for the construction of one of the World Trade Center (WTC) towers in Lower Manhattan, The Wall Street Journal reports. The offering includes $900 million of fixed-rate bonds and $375 million of floating-rate debt.

The bonds will be issued through the New York Liberty Development Corporation on behalf of the developer, Silverstein. Goldman Sachs and JP Morgan are the lead managers on the sale. The Manhattan-based real estate development and investment firm is expected sell the bonds on April 13, 2011.

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