Vornado Realty Trust (NYSE:VNO) today announced that Vornado Realty
L.P., the operating partnership through which Vornado Realty Trust
conducts its business, has priced an offering of $450 million aggregate
principal amount of 2.50% senior unsecured notes due June 30, 2019.
Interest on the notes will be payable semi-annually on June 30 and
December 30, commencing December 30, 2014. The notes were priced at
99.619% of their face amount to yield 2.581%. The net proceeds of
approximately $445 million will be used to fund Eligible Green Projects
(as defined in the prospectus supplement dated June 9, 2014). Subject to
customary closing conditions, the offering is expected to close on June
16, 2014.
Merrill Lynch, Pierce, Fenner & Smith Incorporated, Deutsche Bank
Securities Inc., UBS Securities LLC, Barclays Capital Inc., RBS
Securities Inc. and Wells Fargo Securities, LLC acted as joint
book-running managers. In addition, Merrill Lynch, Pierce, Fenner &
Smith Incorporated acted as structuring agent.
The offering is being made under Vornado Realty L.P.’s shelf
registration statement filed with the Securities and Exchange Commission
and only by means of a prospectus supplement, dated June 9, 2014, and
accompanying prospectus, dated April 10, 2012. A copy of the prospectus
supplement and accompanying prospectus relating to the offering may be
obtained from Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222
Broadway, New York, NY 10038, Attn: Prospectus Department, email: dg.prospectus_requests@baml.com;
Deutsche Bank Securities Inc., 60 Wall Street, New York, NY 10005, Attn:
Prospectus Group, or by calling 1-800-503-4611; or UBS Securities LLC,
299 Park Avenue, New York, NY 10171, Attn: Prospectus Specialist, or by
calling 1-877-827-6444 ext. 561-3884.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor will there be any
sale of these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful.
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 Vornado 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 transactions described above as described in the above-referenced
prospectus supplement under “Risk Factors” and those described in
Vornado Realty L.P.’s Annual Report on Form 10-K for the year ended
December 31, 2013, under Item 1.A, Risk Factors, copies of which may be
obtained at the website of the Securities and Exchange Commission at www.sec.gov.
Copyright Business Wire 2014