By a News Reporter-Staff News Editor at Investment Weekly News -- Vornado Realty Trust (NYSE:VNO) announced that Vornado Realty L.P., the operating partnership through which Vornado Realty Trust conducts its business, has priced an offering of $450 million aggregate principal amount of 2.50% senior unsecured notes due June 30, 2019. Interest on the notes will be payable semi-annually on June 30 and December 30, commencing December 30, 2014. The notes were priced at 99.619% of their face amount to yield 2.581%. The net proceeds of approximately $445 million will be used to fund Eligible Green Projects (as defined in the prospectus supplement dated June 9, 2014). Subject to customary closing conditions, the offering is expected to close on June 16, 2014.
Merrill Lynch, Pierce, Fenner & Smith Incorporated, Deutsche Bank Securities Inc., UBS Securities LLC, Barclays Capital Inc., RBS Securities Inc. and Wells Fargo Securities, LLC acted as joint book-running managers. In addition, Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as structuring agent.
The offering is being made under Vornado Realty L.P.'s shelf registration statement filed with the Securities and Exchange Commission and only by means of a prospectus supplement, dated June 9, 2014, and accompanying prospectus, dated April 10, 2012. A copy of the prospectus supplement and accompanying prospectus relating to the offering may be obtained from Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222 Broadway, New York, NY 10038, Attn: Prospectus Department, email: firstname.lastname@example.org; Deutsche Bank Securities Inc., 60 Wall Street, New York, NY 10005, Attn: Prospectus Group, or by calling 1-800-503-4611; or UBS Securities LLC, 299 Park Avenue, New York, NY 10171, Attn: Prospectus Specialist, or by calling 1-877-827-6444 ext. 561-3884.
Keywords for this news article include: Banking and Finance, Vornado Realty Trust.
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