Silverstein delays WTC bond sale on market instability

12/9/2010 | Wall Street Journal, The

World Trade Center developer Larry Silverstein has postponed a planned sale of $1.3 billion in tax-free Liberty bonds due to instability in the bond market. The bond sale is part of a financing package for Silverstein's first tower, which is already under construction. The bond market has been flooded with sales of Build America Bonds by state and municipal governments taking advantage of the program before its scheduled expiration at year's end. The influx has pressured bond prices and roiled the market.

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