CLEVELAND, Dec. 15 /PRNewswire-FirstCall/ -- Forest City Enterprises, Inc. today announced the pricing of $511 million of tax-exempt bonds to finance a portion of the construction of the Barclays Center arena at the Company's Atlantic Yards project in Brooklyn. The interest rate on the bonds was 6.48%.
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"We're very pleased at the strong level of interest shown by investors in these bonds," said Charles A. Ratner, Forest City president and chief executive officer. "Demand far exceeded the total dollar volume of the bonds being marketed, a demonstration of support and confidence in the arena, in Atlantic Yards and in the future of Brooklyn. I congratulate our New York team and our advisors, and thank our public partners as we take this important next step in making this great project a reality."
Co-lead underwriters for the bond offering were Goldman Sachs and Barclays Capital.
About Forest City
Forest City Enterprises, Inc., is an $11.9 billion NYSE-listed national real estate company. The Company is principally engaged in the ownership, development, management and acquisition of commercial and residential real estate and land throughout the United States. For more information, visit http://www.forestcity.net/.
Forest City Enterprises, Inc.
CONTACT: Robert O'Brien, Executive Vice President - Chief Financial
Officer, or Jeff Linton, Vice President - Corporate Communication,
+1-216-621-6060
Web Site: http://www.forestcity.net/
