(BofA) – Vornado Pronounces Pricing of Public Providing of $300 Million 5.25% Sequence N Cumulative Redeemable Most well-liked Shares
NEW YORK, Nov. 19, 2020 (GLOBE NEWSWIRE) — VORNADO REALTY TRUST (NYSE: VNO) right now introduced the pricing of a public providing of $300 million perpetual 5.25% Sequence N Cumulative Redeemable Most well-liked Shares, at a price of $25.00 per share, pursuant to an efficient registration assertion. The providing is predicted to shut November 24, 2020, topic to customary closing situations. The Firm may redeem the Sequence N Most well-liked Shares at a redemption price of $25.00 per share on and after November 24, 2025. (BofA) Securities, J.P. Morgan, Morgan Stanley, UBS Funding Bank and Wells Fargo Securities, acted as joint book-running managers.
The Firm will use the online proceeds for common enterprise functions.
The providing is being made below the Firm’s shelf registration assertion filed with the Securities and Alternate Fee. A prospectus complement regarding the providing might be filed with the Securities and Alternate Fee. A duplicate of the prospectus complement and accompanying prospectus regarding the providing may be obtained by contacting (BofA) Securities, Inc., 200 North School Street, NC1-004-03-43, Charlotte, NC 28255-0001, Consideration: Prospectus Division, phone: 1-800-294-1322 or e-mail, d[email protected], J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, Consideration: Funding Grade Syndicate Desk, or by calling (212) 834-4533, Morgan Stanley & Co. LLC, 180 Varick Street, New York, NY 10014, Attn: Prospectus Division, or e-mail [email protected], UBS Securities LLC, Consideration: Prospectus Division, 1285 Avenue of the Americas, New York, NY 10019, or by calling 1-888-827-7275 and Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attn: WFS Buyer Service, or e-mail [email protected], or by calling toll-free at 1800645-3751.
This communication shall not represent a suggestion to promote or the solicitation of a suggestion to purchase, nor shall there be any sale of the securities in any state during which such supply, solicitation or sale can be illegal previous to registration or qualification.
Vornado Realty Belief is a fully-integrated fairness actual property funding belief.
CONTACT:
JOSEPH MACNOW
(212) 894-7000
Sure statements contained herein may represent “forward-looking statements” throughout the that means of the Non-public Securities Litigation Reform Act of 1995. Such forward-looking statements contain recognized and unknown dangers, uncertainties and different elements which may trigger the precise outcomes, efficiency or achievements of the Firm to be materially completely different from any future outcomes, efficiency or achievements expressed or implied by such forward-looking statements. For a dialogue of things that might materially have an effect on the result of our forward-looking statements and our future outcomes and monetary situation, see “Risk Factors” in Half I, Merchandise 1A, of our Annual Report on Type 10-Okay for the yr ended December 31, 2019 and “ Risk Factors” in Half II, Item1A of our Quarterly Report on Type 10Q for the quarterly interval ended September 30, 2020. Such elements embrace, amongst others, dangers related to the timing of and prices related to property enhancements, financing commitments and common aggressive elements. At the moment, one of the vital vital elements is the continued opposed impact of the COVID19 pandemic on our enterprise, monetary situation, outcomes of operations, cash flows, working efficiency and the impact it would have on our tenants, the worldwide, nationwide, regional and native economics and monetary markets and the true property market normally. The extent of the impression of the COVID19 pandemic will rely upon future developments, together with the length of the pandemic, that are extremely unsure right now however that impression might be materials. Furthermore, you’re cautioned that the COVID19 pandemic will heighten most of the dangers recognized in “Item 1A. Risk Factors” in Half I of our Annual Report on Type 10Okay for the yr ended December 31, 2019, in addition to the dangers set forth in “Merchandise 1A. Threat Elements in Half II of our Quarterly Report on Type 10Q for the quarterly interval ended September 30, 2020.
