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Vornado Realty begins tender offer for 4.5% notes, 4.75% notes and 5.6% notes
By Angela McDaniels
Tacoma, Wash., April 30 - Vornado Realty LP has begun a tender offer for any and all of its $154.91 million principal amount of outstanding 4.5% notes due 2009, $177.21 million principal amount of outstanding 4.75% notes due 2010 and $204.81 million principal amount of outstanding 5.6% notes due 2011.
The company is offering par for the 4.5% notes and 97 for the 4.75% and 5.6% notes, according to a company news release.
Holders will also receive accrued interest up to but excluding the purchase date.
The tender offer will expire at 5 p.m. ET on May 7.
The offer is not conditioned on the tender of a minimum principal amount of notes.
The company plans to pay for notes purchased under the offer with cash on hand and borrowings under its revolving credit facilities.
The dealer managers are Citi (800 558-3745) and J.P. Morgan Securities Inc. (866 834-4666 and 212 834-3424), and the information agent is Global Bondholder Services Corp. (212 430-3774 or 866 470-3900).
Vornado Realty is the operating partnership through which Vornado Realty Trust - a Paramus, N.J.-based equity real estate investment trust - conducts its business and holds substantially all of its assets.
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