Vornado Increases and Extends One of its Two Revolving Credit Facilities
NEW YORK….VORNADO REALTY TRUST (NYSE:VNO) announced today that Vornado Realty L.P., the operating partnership through which Vornado Realty Trust conducts its business, has increased to $1.5 billion and extended to March 2024 (as fully extended) one of its two unsecured revolving credit facilities. The interest rate on the extended facility was lowered from LIBOR plus 100 basis points to LIBOR plus 90 basis points. The facility fee remains at 20 basis points.
Vornado’s other $1.25 billion revolving credit facility matures in January 2023 (as fully extended) and has an interest rate of LIBOR plus 100 basis points and a facility fee of 20 basis points.
The joint lead arrangers and joint bookrunners for the facility are JPMorgan Chase Bank, N.A., Merrill Lynch, Pierce, Fenner & Smith Incorporated, U.S. Bank National Association, and Wells Fargo Securities LLC, and JPMorgan Chase Bank, N.A. serves as Administrative Agent. Bank of America, N.A., U.S. Bank National Association and Wells Fargo Bank, N.A. serve as Co-Syndication Agents. Bank of Montreal, Citigroup Global Markets Inc., Mizuho Bank, Ltd., PNC Capital Markets LLC and TD Securities (USA) LLC, serve as joint lead arrangers.
Vornado Realty Trust is a fully integrated equity real estate investment trust.