NEW YORK CITY—As he is wont to do, major developer Larry Silverstein has set a new record. The World Trade Center builder has sold $1.6 billion of tax-exempt bonds to finance the construction of 3 World Trade Center, the largest-ever unrated deal in the municipal market, according to Bloomberg News.

Goldman Sachs Group Inc., which managed the offer, sold about $1.1 billion of senior bonds maturing in 30 years at a preliminary yield of 5%, or about 1.9 percentage points above benchmark debt, according to data compiled by Bloomberg.

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