The Hudson Yards Infrastructure Corp. expects to price $1 billion of new- money bonds the week of Oct. 17 to benefit the extension of the No. 7 subway line in New York City’s transit system from its current terminus on Eighth Avenue to the Hudson Yards redevelopment area.
The bond will also pay for other infrastructure needs, including park development and other amenities.
HYIC will sell the bonds on a negotiated basis through its underwriting syndicate led by book-running senior manager JPMorgan, with Goldman Sachs the co-senior manager.
The city created the Hudson Yards Infrastructure Corp. in 2005. Its district is made up of an area south of 42nd Street, west of Eighth Avenue, north of 31st Street, and east of the Hudson River.