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Vornado Renews Revolving Credit Facility

^{Published on 2011-11-08 22:25:08 - Market Wire}
 

PARAMUS, N.J.--([ BUSINESS WIRE ])--VORNADO REALTY TRUST (NYSE:VNO) announced today that Vornado Realty L.P., the operating partnership through which VornadoRealty Trust conducts its business, has renewed the second of its unsecured revolving credit facilities for $1.25 billion. This renewed facility matures in four years, has a one-year extension option and bears interest at LIBOR plus 125 basis points, based on Vornadoas current credit rating.

In June 2011, Vornado renewed its other revolving credit facility for a four-year term with a one-year extension option for $1.25 billion.

Vornadoas total revolving credit facilities are now $2.5 billion.

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. Sumitomo Mitsui Banking Corporation; U.S. Bank National Association; Wells Fargo Bank, National Association; Barclays Bank plc; Citibank, N.A.; Deutsche Bank Securities, Inc.; The Royal Bank of Scotland plc; and UBS Securities LLC serve as Documentation Agents.

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

Certain statements contained herein may constitute aforward-looking statementsa 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.