Vornado Realty Trust (NYSE:VNO) today announced the pricing of a public
offering of $300 million perpetual 5.70% Series K Cumulative Redeemable
Preferred Shares, at a price of $25.00 per share, pursuant to an
effective registration statement. The offering is expected to close July
18, 2012. The Company may redeem the Series K Preferred Shares at a
redemption price of $25.00 per share on and after July 18, 2017. BofA
Merrill Lynch, Citigroup, Morgan Stanley, UBS Investment Bank and Wells
Fargo Securities, acted as joint book-running managers.
The Company will use the net proceeds for general business purposes,
which includes the redemption or repurchase of outstanding preferred
stock and units.
The offering is being made under the Company’s shelf registration
statement filed with the Securities and Exchange Commission. A
prospectus supplement relating to the offering will be filed with the
Securities and Exchange Commission. A copy of the prospectus supplement
and accompanying prospectus relating to the offering may be obtained by
contacting BofA Merrill Lynch, 222 Broadway, 7th Floor, New
York, NY 10038, Attention: Prospectus Department, or e-mail dg.prospectus_requests@baml.com,
Citigroup Global Markets Inc. at Brooklyn Army Terminal, 140 58th
Street, 8th Floor, Brooklyn, New York 11220, or by calling (800)
831-9146, Morgan Stanley & Co. LLC, 180 Varick Street, New
York, NY 10014, Attn: Prospectus Department, or e-mail prospectus@morganstanley.com,
UBS Securities LLC, Attention: Prospectus Department, 299 Park Avenue,
New York, NY 10171, or by calling 1-877-827-6444 (ext. 561-3884) and
Wells Fargo Securities, LLC, 1525 West W.T. Harris Blvd., NC0675,
Charlotte, North Carolina 28262, Attn: Capital Markets Client Support or
email cmclientsupport@wellsfargo.com,
or by calling toll-free at 1-800-326-5897.
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the
securities in any state in which such offer, solicitation or sale would
be unlawful prior to registration or qualification.
Vornado Realty Trust is a fully-integrated equity real estate investment
trust.
Certain statements contained herein may constitute “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements.
Such factors include, among others, risks associated with the timing of
and costs associated with property improvements, financing commitments
and general competitive factors.
