Vornado Realty completes tender offer for 4.5% notes, 4.75% notes and 5.6% notes

By Jennifer Chiou

New York, May 8 - Vornado Realty LP said it completed the tender offer for any and all of its $154.91 million of 4.5% notes due 2009, $177.21 million of 4.75% notes due 2010 and $204.81 million of 5.6% notes due 2011.

The tender offer expired at 5 p.m. ET on May 7.

The company received tenders for $57.03 million of the 4.5% notes, $28.87 million of the 4.75% notes and $87.43 million of the 5.6% notes.

The company paid par for the 4.5% notes and 97 for the 4.75% and 5.6% notes. Holders also received accrued interest up to but excluding the purchase date, which was May 8. The aggregate consideration paid, exclusive of accrued interest, was $169.83 million.

The tendered securities were retired.

The offer was not conditioned on the tender of a minimum principal amount of notes.

The company planned to pay for notes purchased under the offer with cash on hand and borrowings under its revolving credit facilities.

The dealer managers were Citi (800 558-3745) and J.P. Morgan Securities Inc. (866 834-4666 or 212 834-3424), and the information agent was 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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.