Vornado Prices $500M 5.75% Notes at 99.824% to Yield 5.78%
Vornado Realty L.P. priced $500 million of 5.75% senior unsecured notes due February 1, 2033, at 99.824%, yielding 5.78%. Net proceeds of approximately $494 million will repay $400 million of notes maturing June 1, 2026, with the remainder for general corporate purposes and closing on January 14, 2026.
1. Vornado Realty L.P. Prices $500 Million 7-Year Unsecured Bond Offering
On January 7, 2026, Vornado Realty L.P. successfully priced a $500 million public offering of 5.75% senior unsecured notes due February 1, 2033, at 99.824% of face value, resulting in a yield of 5.78%. Interest will be paid semi-annually on February 1 and August 1, beginning August 1, 2026. Net proceeds of approximately $494 million are earmarked to retire $400 million of unsecured notes maturing June 1, 2026, with the remaining $94 million allocated for general corporate purposes and potential temporary investments in cash equivalents or other liquid instruments. The transaction, expected to close on January 14, 2026, was led by a syndicate of 14 joint book-running managers including BofA Securities, PNC Capital Markets and J.P. Morgan Securities, with additional support from five co-managers such as Citi Global Markets and Deutsche Bank Securities.