Vornado Realty extends one of its revolvers to April 2026

By Wendy Van Sickle

Columbus, Ohio, April 16 – Vornado Realty Trust said its operation partnership, Vornado Realty, LP, extended one of its two unsecured revolving credit facilities to April 2026 and lowered the interest rate on the extended facility to Libor plus 90 basis points from Libor plus 100 bps, according to a news release.

The facility fee remains at 20 bps.

Vornado’s other $1.5 billion revolver matures in March 2024 and has an interest rate of Libor plus 90 bps and a facility fee of 20 bps.

Joint lead arrangers and joint bookrunners are JPMorgan Chase Bank, NA, BofA Securities, Inc., PNC Capital Markets LLC, U.S. Bank NA and Wells Fargo Securities LLC. Additional joint lead arrangers are Bank of the West, Barclays Bank plc, BMO Capital Markets Corp., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs Bank USA, Morgan Stanley and TD Bank, NA. JPMorgan is the administrative agent, and J.P. Morgan Securities LLC is sustainability structuring agent. Bank of America, NA, PNC Bank, NA, U.S. Bank and Wells Fargo Bank, NA are the co-syndication agents.

Vornado Realty Trust is an equity real estate investment trust based in New York.

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