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State Expects to Begin Marketing Arena Bonds in Two Weeks

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The Empire State Development Corp. said Monday it expects to begin marketing bonds for Barclays Center in the next two weeks. The ESDC and the Nets have been trying to get favorable terms from rating agencies like Moody's over the last month, but have reportedly run into resistance. Close to $700 million in bonds must be sold before Dec. 31 or they'll lose their federal tax exempt status.