SL Green Realty buys back $305.7 million notes, exchangables

By Angela McDaniels

Tacoma, Wash., July 27 - SL Green Realty Corp. has repurchased approximately $305.7 million of its unsecured notes and exchangeable bonds since April 1, according to its earnings release for the second quarter.

Roughly $290.6 million of the debt repurchased was exchangeables.

The repurchases resulted in approximately $30.2 million of gains on the early extinguishment of debt. About $8.0 million principal amount of the repurchases occurred during July, so about $800,000 of these gains will be recognized during the third quarter.

Since October 2008, the company has repurchased about $732.3 million of its debt for approximately $532.7 million, which resulted in gains on the early extinguishment of roughly $155.2 million.

SL Green is a New York-based real estate investment trust specializing in Manhattan office properties.

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