Vornado Prices $500M 7-Year Notes at 5.78% and Purchases $141M Development Site
Vornado priced $500 million of 5.75% senior unsecured notes due February 1, 2033 at 99.824% for a 5.78% yield, raising $494 million to retire $400 million of 2026 notes and for corporate purposes. It acquired 3 East 54th Street in Manhattan for $141 million, crediting a $107 million mortgage toward purchase of an 18,400 sq ft development site.
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