FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / Press Releases / Read Press Release


JPMorgan Chase Agents $1.25B Facility Amendment for Vornado

November 08, 2016, 07:06 AM
Filed Under: Real Estate

Vornado Realty Trust 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 June 2017 to February 2021 with two 6-month extension options. The interest rate on the extended facility was lowered from LIBOR plus 115 basis points to LIBOR plus 100 basis points. The facility fee remains at 20 basis points.

Vornado's second revolving credit facility of $1.25 billion matures in November 2018 with two 6-month extension options.

The revolving credit facilities permit the recently announced tax-free spin-off of Vornado's Washington, DC business.

The joint lead arrangers and joint bookrunners for the facility are JPMorgan Chase Bank, N.A., Merrill Lynch, Pierce, Fenner & Smith Incorporated, and Wells Fargo Securities LLC. JPMorgan Chase Bank, N.A. serves as Administrative Agent. Bank of America, N.A. and Wells Fargo Bank, N.A. serve as Co-Syndication Agents. Citigroup Global Markets Inc., PNC Capital Markets LLC, and U.S. Bank National Association serve as joint lead arrangers.

Vornado Realty Trust is a fully integrated equity real estate investment trust.

Week's News

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.