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News  ›  GlobeNewswire Inc.

Vornado Prices Public Offering of $500 Million of 7-Year Bonds

GlobeNewswire Inc. Logo GlobeNewswire Inc. By Na
Vornado Prices Public Offering of $500 Million of 7-Year Bonds

Vornado Realty Trust announced the pricing of a $500 million offering of 5.75% senior unsecured notes due February 1, 2033, at 99.824% of face value. The net proceeds of approximately $494 million will be used to repay $400 million of unsecured notes due June 1, 2026, with the remainder allocated for general corporate purposes. The offering is expected to close on January 14, 2026.

Insights
JPMpD   neutral

Participating as lead bank in a standard syndicated loan arrangement without exceptional risks or opportunities


VNO   neutral

The company is executing a standard refinancing strategy to manage debt maturities. While refinancing at 5.78% yield reflects current market conditions and interest rate environment, the transaction itself is a routine capital management activity with no indication of financial distress or exceptional opportunity. The pricing at 99.824% is close to par, suggesting normal market conditions.