SL Green wraps $1.5 billion revolving facility at Libor plus 150 bps

By Aleesia Forni

Columbus, Ohio, Nov. 14 - SL Green Realty Corp. closed a new $1.5 billion unsecured revolving credit facility, according to a company press release on Monday.

This facility replaces the company's prior $1.5 billion revolver set to expire in June 2012.

The new facility bears interest at Libor plus 150 basis points, based on the unsecured bond rating of Reckson Operating Partnership LP.

The revolver is set to mature in November 2016, inclusive of the company's one-year extension option.

"We will now move forward to pursue future growth opportunities with a credit facility that is greatly simplified and that increases our flexibility to fund our growth while enhancing our appeal to corporate unsecured bond markets," chief financial officer James Mead said in the release.

This facility was arranged by Wells Fargo Securities LLC, J.P. Morgan Securities LLC and Deutsche Bank Securities Inc.

SL Green is a New York-based real estate investment trust.

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