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 2015 to November
2018 with two 6-month extension options. The interest rate on the
extended facility was lowered from LIBOR plus 125 basis points to LIBOR
plus 105 basis points and the facility fee was reduced from 25 to 20
points.
Vornado’s second revolving credit facility of $1.25 billion matures in
June 2017 with two 6-month extension options.
The lead arrangers and bookrunners for the facility are J.P. Morgan
Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated.
JPMorgan Chase Bank, N.A. serves as Administrative Agent. Bank of
America, N.A. serves as Syndication Agent. Barclays Bank plc; Citibank,
N.A.; Deutsche Bank Securities, Inc.; Goldman Sachs Bank USA; Mizuho
Bank, Ltd.; Morgan Stanley Bank, N.A.; The Royal Bank of Scotland plc;
UBS Securities LLC; U.S. Bank National Association and Wells Fargo Bank,
National Association, serve as Documentation Agents.
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.
Copyright Business Wire 2014