CORRECTED - NY agency to start marketing Brooklyn arena bonds

Mon Nov 16, 2009 5:44pm EST
 
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(Corrects figure in first paragraph to $4 billion, instead of $14 billion)

NEW YORK, Nov 16 (Reuters) - A New York state agency on Monday said in the next two weeks it will begin marketing tax-exempt bonds for Forest City Ratner's (FCEa.N) $4 billion project in Brooklyn that combines a basketball arena with offices, shops and apartments.

"Forest City Ratner Companies, along with Goldman Sachs, is in talks with rating agencies and finalizing the bond structure," a spokeswoman for the Empire State Development Corporation said by email. "The offering statement is being finalized; we expect to release bond terms in the next two weeks."

The bonds should be sold this year. (Reporting by Joan Gralla; Editing by Leslie Adler)

 

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