Vornado calls all series G, some series I preferreds for redemption

By Wendy Van Sickle

Columbus, Ohio, Dec. 6 – Vornado Realty Trust called all $200 million of its 6.625% series G cumulative redeemable preferred shares and $150 million of its 6.625% series I cumulative redeemable preferred shares for redemption, according to a press release issued on Wednesday.

The preferreds will be redeemed at par of $25 plus accrued dividends through the redemption date of Jan. 4.

The redemptions will be funded by proceeds of $300 million of 5¼% series M cumulative redeemable preferred shares that were sold by Vornado on Monday and $50 million of cash on hand.

Vornado is a New York-based real estate investment trust.

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