Vornado Realty extends revolving credit facility to November 2018

By Tali Rackner

Norfolk, Va., Oct. 1 – Vornado Realty Trust announced that Vornado Realty LP extended one of its two $1.25 billion unsecured revolving credit facilities to November 2018 from November 2015 with two six-month extension options, according to a press release.

Interest was lowered to Libor plus 105 basis points from Libor plus 125 bps and the facility fee was reduced to 20 bps from 25 bps.

Vornado’s second revolving credit facility of $1.25 billion matures in June 2017 with two six-month extension options.

J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Inc. are the joint lead arrangers and bookrunners; JPMorgan Chase Bank, NA is the administrative agent; Bank of America, NA is the syndication agent; and Barclays Bank plc, Citibank, NA, Deutsche Bank Securities, Inc., Goldman Sachs Bank USA, Mizuho Bank, Ltd., Morgan Stanley Bank, NA, Royal Bank of Scotland plc, UBS Securities LLC, U.S. Bank NA and Wells Fargo Bank, NA, are co-documentation agents.

Vornado is an equity real estate investment trust based in Paramus, N.J.

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