The $700 million of bonds to finance a professional basketball arena at the Atlantic Yards project in Brooklyn could be sold and the proceeds placed into escrow as legal challenges to the project are resolved, an official at the Empire State Development Corp. said yesterday.

“The expectation is that they can be issued,” said Frances Walton, chief financial officer of the ESDC. “It wouldn’t be the first time that bonds have been issued with those types of legal challenges.”

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.