By Cristal Cody
Tupelo, Miss., Oct. 26 – SL Green Realty Corp., SL Green Operating Partnership, LP and Reckson Operating Partnership, LP priced a $100 million add-on to its 4.5% senior notes due Dec. 1, 2022 on Thursday at 105.334 to yield 3.298%, according to a market source and an FWP filing with the Securities and Exchange Commission.
The notes (Baa3/BBB-/BBB-) priced with a spread of Treasuries plus 123 basis points, tighter than initial talk in the Treasuries plus 135 bps area.
Wells Fargo Securities LLC, Citigroup Global Markets Inc. and BofA Merrill Lynch were the bookrunners.
The company originally sold $200 million of the notes on Nov. 9, 2012 at par.
The total outstanding now is $300 million.
Proceeds will be used for general corporate purposes, including debt repayment and repaying borrowings under the company’s credit facility.
The real estate investment trust for retail and commercial properties is based in Escondido, Calif.
| Issuers: | SL Green Realty Corp., SL Green Operating Partnership, LP and Reckson Operating Partnership, LP
|
| Amount: | $100 million reopening
|
| Description: | Senior notes
|
| Maturity: | Dec. 1, 2022
|
| Bookrunners: | Wells Fargo Securities LLC, Citigroup Global Markets Inc. and BofA Merrill Lynch
|
| Coupon: | 4.5%
|
| Price: | 105.334
|
| Yield: | 3.298%
|
| Spread: | Treasuries plus 123 bps
|
| Call features: | Make-whole call at Treasuries plus 45 bps before Sept. 1, 2022; thereafter at par
|
| Trade date: | Oct. 26
|
| Settlement date: | Oct. 30
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
| Fitch: BBB-
|
| Distribution: | SEC registered
|
| Price talk: | Treasuries plus bps 135 area
|
| Total outstanding: | $300 million, including $200 million priced on Nov. 9, 2012 at par
|
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