Vornado Extends Maturities of $2 Billion of Revolving Credit Facility and Term Loan

NEW YORK, Jan. 07, 2026 (GLOBE NEWSWIRE) --

Vornado Realty Trust (NYSE:VNO) announced today that it has completed the following refinancings, totaling over $2.0 billion:

• 2031 Revolving Credit Facility – Vornado Realty L.P. extended the maturity date of this revolving credit facility from December 2027 to February 2031 (as fully extended). This $1.105 billion facility currently bears interest at a rate of SOFR plus 1.05% and has a facility fee of 0.25%
• Term Loan - Vornado Realty L.P. concurrently extended the maturity date of its unsecured term loan from December 2027 to February 2031 (as fully extended) and upsized the loan amount to $850 million. The term loan currently bears interest at a rate of SOFR plus 1.20%.
• 2029 Revolving Credit Facility – In addition, Vornado Realty L.P. upsized this revolving credit facility that matures in April 2029 (as fully extended) by $85 million to $1.0 billion. This facility currently bears interest at a rate of SOFR plus 1.16% and a facility fee of 0.24%.
  
  

The joint lead arrangers and joint bookrunners for the extended facilities are JPMorgan Chase Bank, N.A., BofA Securities, Inc., BMO Capital Markets Corp., PNC Capital Markets LLC, U.S. Bank National Association, and Wells Fargo Securities LLC.  JPMorgan Chase Bank, N.A. serves as Administrative Agent. J.P. Morgan Securities LLC serves as Lead Sustainability Structuring Agent, and ING Capital LLC serves as Sustainability Structuring Agent.  Bank of America, N.A., BMO Capital Markets Corp., PNC Bank, National Association, U.S. Bank National Association and Wells Fargo Bank, N.A. serve as Co-Syndication Agents. Mizuho Bank, Ltd. and M&T Bank serve as Joint Lead Arrangers and Documentation Agents. Goldman Sachs Bank USA, Morgan Stanley Bank, N.A., Citibank, N.A. and Citizens Bank serve as Documentation Agents on the 2031 Revolving Credit Facility and Deutsche Bank AG New York Branch, Agricultural Bank of China Limited, New York Branch, The Bank of New York Mellon, and ING Capital LLC are participants in the 2031 Revolving Credit Facility. Citizens Bank serves as Documentation Agent on the Term Loan and The Bank of New York Mellon, ING Capital LLC, and Bank of China, New York Branch are participants in the Term Loan.

Vornado Realty Trust is a fully-integrated equity real estate investment trust.

CONTACT

Thomas J. Sanelli

(212) 894-7000

Certain statements contained herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees of performance. They represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Our future results, financial condition and business may differ materially from those expressed in these forward-looking statements. You can find many of these statements by looking for words such as "approximates," "believes," "expects," "anticipates," "estimates," "intends," "plans," "would," "may" or other similar expressions in this press release. For a discussion of factors that could materially affect the outcome of our forward-looking statements and our future results and financial condition, see “Risk Factors” in Part I, Item 1A, of our Annual Report on Form 10-K for the year ended December 31, 2024. Currently, some of the factors are interest rate fluctuations and the effects of inflation on our business, financial condition, results of operations, cash flows, operating performance and the effect that these factors have had and may continue to have on our tenants, the global, national, regional and local economies and financial markets and the real estate market in general.