PARAMUS, N.J. -- (Business Wire)
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 $1.250 billion
revolving credit facilities from June 2015 to June 2017 with two 6-month
extension options. The interest on the extended facility was lowered
from LIBOR plus 135 basis points to LIBOR plus 115 basis points. In
addition, the facility fee was reduced from 30 to 20 basis points.
The second $1.250 billion facility matures in November 2015 with a
one-year extension option.
There are no borrowings outstanding under either of the revolving credit
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 Trust Company Americas; Morgan Stanley MUFG Loan
Partners, LLC; PNC Bank, National Association; 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
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.
Vornado Realty Trust
Joseph Macnow, 201-587-1000
Source: Vornado Realty Trust
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