Vornado Realty launches tender offers for 3.625%, 2.85% convertibles

By Susanna Moon

Chicago, Nov. 2 - Vornado Realty Trust said it began cash tender offers for any and all of its $886,969,000 principal amount of outstanding 3.625% convertible senior debentures due 2026 and its $1,125,938,000 principal amount of outstanding 2.85% convertible senior debentures due 2027.

The notes are guaranteed by Vornado Realty LP, the company's operating partnership.

Vornado said it intends to pay for the tender offers from available cash received from the operating partnership.

Holders will receive par plus accrued interest to the payment date.

The tender offers will expire at midnight ET on Dec. 1.

The offers are not conditioned upon the tender of any minimum principal amount of securities.

Bank of America Merrill Lynch (888 292-0070) and Goldman Sachs & Co. (800 828-3182) are the dealer managers. Global Bondholder Services Corp. (866 470-3900 or 212 430-3774) is the information agent.

Vornado Realty is the operating partnership through which Vornado Realty Trust, a Paramus, N.J.-based equity real estate investment trust, conducts its business and holds substantially all of its assets.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.