NEW YORK, Jan. 07, 2026 (GLOBE NEWSWIRE) -- $Vornado Realty Trust(VNO-N)$ $(VNO)$ announced today that Vornado Realty L.P., the operating partnership through which Vornado Realty Trust conducts its business, has priced an offering of $500 million aggregate principal amount of 5.75% senior unsecured notes due February 1, 2033. Interest on the notes will be payable semiannually on February 1 and August 1, commencing August 1, 2026. The notes were priced at 99.824% of their face amount to yield 5.78%. The net proceeds of approximately $494 million will be used to repay our $400 million of unsecured notes due June 1, 2026 (the "2026 Notes") at maturity, and the remainder will be used for general corporate purposes. Prior to the maturity of the 2026 Notes, the net proceeds may be temporarily invested in cash, cash equivalents and other liquid marketable investments. Subject to customary closing conditions, the offering is expected to close on January 14, 2026.
BofA Securities, Inc., PNC Capital Markets LLC, U.S. Bancorp Investments, Inc., Wells Fargo Securities, LLC, BMO Capital Markets Corp., J.P. Morgan Securities LLC, BNY Mellon Capital Markets, LLC, Citigroup Global Markets Inc., Citizens JMP Securities, LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, M&T Securities, Inc., Mizuho Securities USA LLC and Morgan Stanley & Co. LLC acted as joint book-running managers. Cabrera Capital Markets LLC, ING Financial Markets LLC, Loop Capital Markets LLC, Standard Charter Bank and Academy Securities, Inc. acted as co-managers.
The offering is being made under Vornado Realty L.P.'s shelf registration statement filed with the Securities and Exchange Commission on April 1, 2024 and only by means of a prospectus supplement, dated January 7, 2026, and accompanying prospectus, dated April 1, 2024. A copy of the prospectus supplement and accompanying prospectus relating to the offering may be obtained by calling BofA Securities, Inc. toll-free at 1-800-294-1322, PNC Capital Markets LLC toll-free at 1-855-881-0697, U.S. Bancorp Investments, Inc. toll-free at 1-877-558-2607 or Wells Fargo Securities, LLC toll-free at 1-800-645-3751. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.
Vornado Realty Trust is a fully-integrated equity real estate investment trust.
CONTACT
Thomas J. Sanelli
(212) 894-7000
Certain statements contained herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees of performance. They represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Our future results, financial condition and business may differ materially from those expressed in these forward-looking statements. You can find many of these statements by looking for words such as "approximates," "believes," "expects," "anticipates," "estimates, " "intends," "plans," "would," "may" or other similar expressions in this press release. For a discussion of factors that could materially affect the outcome of our forward-looking statements and our future results and financial condition, see "Risk Factors" in Part I, Item 1A, of our Annual Report on Form 10-K for the year ended December 31, 2024. Currently, some of the factors are interest rate fluctuations and the effects of inflation on our business, financial condition, results of operations, cash flows, operating performance and the effect that these factors have had and may continue to have on our tenants, the global, national, regional and local economies and financial markets and the real estate market in general.
(END) Dow Jones Newswires
January 07, 2026 17:49 ET (22:49 GMT)
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