The Hudson Yards Infrastructure Corp. will offer $2.19 billion of second indenture revenue bonds for sale the week of May 22.
The $2.15 billion of tax-exempt Fiscal 2017 Series A bonds will be priced via negotiation by Goldman Sachs as senior manager of a group including Ramirez & Co., JPMorgan Securities and Loop Capital Markets.
The $33.36 million of taxable Fiscal 2017 Series B bonds will go out for competitive bid on Tuesday, May 23.
Public Resources Advisory Group in the financial advisor on the offerings.
The proceeds of this sale will be used to refund all of the first indenture Series 2007A bonds and a portion of the Series 2012A bonds.
“The first indenture bonds were issued to encourage the development within the Hudson Yards Financing District….by financing the cost of the extension of the No. 7 subway line and creation of a public park,” according to the Preliminary Official Statement. “As a result of such infrastructure improvements and development incentives…significant new office, residential and hotel development has occurred and is continuing to occur in the Hudson Yards Financing District."