Vornado Extends $750 Million Unsecured Term Loan
October 31 2018 - 4:39PM
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 its $750 million unsecured term
loan from October 2020 to February 2024. The interest rate on
the extended facility was lowered from LIBOR plus 115 basis points
to LIBOR plus 100 basis points.
The term loan has been used to finance Vornado’s
220 Central Park South development and will be rolled over to other
development projects.
This $750 million unsecured term loan facility
is in addition to Vornado’s $2.5 billion revolving credit
facilities.
The joint lead arrangers for the facility are
JPMorgan Chase Bank, N.A., Merrill Lynch, Pierce, Fenner &
Smith Incorporated, Bank of Montreal, Bank of New York Mellon,
Branch Banking and Trust Company, Mizuho Bank (USA), PNC Capital
Markets LLC, TD Securities (USA) LLC, U.S. Bank National
Association and Wells Fargo Securities LLC.
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: |
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JOSEPH MACNOW(212)
894-7000 |
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