Vornado Prices $500M of 5.75% Notes Due 2033 at 99.824%
Vornado Realty L.P. priced a $500 million offering of 5.75% senior unsecured notes due February 1, 2033 at 99.824% of face value, yielding 5.78%. The net proceeds of approximately $494 million will repay $400 million of notes maturing June 1, 2026, with the balance allocated to general corporate purposes.
1. Vornado Realty L.P. Prices $500 Million 7-Year Note Offering
Vornado Realty L.P. has completed the pricing of a $500 million public offering of 5.75% senior unsecured notes maturing February 1, 2033. The notes were priced at 99.824% of face value, equating to a yield of 5.78%, and will carry semiannual interest payments each February 1 and August 1 beginning August 1, 2026. Net proceeds of approximately $494 million are earmarked to retire $400 million of unsecured notes coming due June 1, 2026, with the remaining $94 million allocated for general corporate purposes. Pending repayment, these proceeds may be held in cash, cash equivalents or other liquid marketable investments. The transaction, under Vornado Realty L.P.’s shelf registration statement filed April 1, 2024, is expected to close January 14, 2026, subject to customary conditions. A syndicate of 17 joint book-running managers and five co-managers, led by BofA Securities and J.P. Morgan, arranged the sale under a prospectus supplement dated January 7, 2026.