Vornado Realty L.P. has successfully priced a $500 million offering of 5.75% senior unsecured notes due February 1, 2033, at 99.824% of par, equating to a yield of 5.78%. The notes will pay interest semiannually on February 1 and August 1, beginning August 1, 2026. Net proceeds of approximately $494 million are earmarked first to repay $400 million of unsecured notes maturing June 1, 2026, thereby extending the debt maturity profile by over seven years. The remaining proceeds will be deployed for general corporate purposes, with temporary investments in cash or liquid securities until drawn down. The transaction, expected to close on January 14, 2026, was led by a syndicate of 14 joint book-running managers including BofA Securities, J.P. Morgan Securities and Morgan Stanley, alongside co-managers such as Loop Capital Markets and Standard Chartered Bank. This refinancing reduces near-term debt amortization risk and locks in financing costs well below current replacement levels, enhancing liquidity and financial flexibility for Vornado’s operating partnership.