Vornado Extends $1.25 Billion of its $2.5 Billion Revolving Credit Facilities
October 17 2017 - 5:04PM
VORNADO REALTY TRUST (NYSE:VNO) announced today that Vornado Realty
L.P., the operating partnership through which Vornado Realty
Trust conducts its business, has extended one of its two $1.25
billion unsecured revolving credit facilities from November 2018 to
January 2022 with two 6‑month extension options. The interest
rate on the extended facility was lowered from LIBOR plus 105 basis
points to LIBOR plus 100 basis points. The facility fee
remains at 20 basis points. The interest rate and facility
fees are the same as Vornado’s other $1.25 billion revolving credit
facility, which matures in February 2021 with two 6-month extension
options.
The joint lead arrangers and joint bookrunners
for the facility are JPMorgan Chase Bank, N.A., Merrill Lynch,
Pierce, Fenner & Smith Incorporated, and Wells Fargo Securities
LLC. JPMorgan Chase Bank, N.A. serves as Administrative
Agent. Bank of America, N.A. and Wells Fargo Bank, N.A. serve
as Co-Syndication Agents. Citigroup Global Markets Inc., PNC
Capital Markets LLC, TD Securities (USA) LLC, N.A., and U.S. Bank
National Association serve as joint lead arrangers.
Vornado Realty Trust is a fully integrated
equity real estate investment trust.
Certain statements contained herein may
constitute “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such
factors include, among others, risks associated with the timing of
and costs associated with property improvements, financing
commitments and general competitive factors.
CONTACT:
|
JOSEPH MACNOW |
|
(201) 587-1000 |
Vornado Realty (NYSE:VNO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Vornado Realty (NYSE:VNO)
Historical Stock Chart
From Apr 2023 to Apr 2024