WASHINGTON (dpa-AFX) - Vornado Realty Trust (VNO), on Wednesday, announced that Vornado Realty L.P., its operating partnership, has priced an offering of $500 million aggregate principal amount of 5.75% senior unsecured notes due February 1, 2033.
The notes were priced at 99.824% of face value to yield 5.78%, with interest payable semiannually on February 1 and August 1, beginning August 1, 2026.
The company said that the net proceeds of approximately $494 million will be used to repay $400 million of unsecured notes due June 1, at maturity, with the remaining proceeds allocated to general corporate purposes.
Before repayment of the 2026 notes, proceeds may be temporarily invested in cash, cash equivalents, or other liquid marketable investments.
On Wednesday, Vornado Realty closed trading 2.01% lesser at $33.64 on the New York Stock Exchange.
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