NEW YORK--(BUSINESS WIRE)--
SL Green Realty Corp. (the "Company") (NYSE: SLG), announced today that
the Company, SL Green Operating Partnership, L.P., and Reckson Operating
Partnership, L.P., as co-obligors (collectively, the "Co-Obligors"),
priced an offering (the "Offering") of an additional $100 million
aggregate principal amount of 4.50% senior unsecured notes due 2022 (the
"Notes"). The Notes are expected to be treated as a single series with,
and will have the same terms as those of, the $200 million aggregate
principal amount of currently outstanding 4.50% senior notes due 2022
previously issued by the Co-Obligors. The Notes will be senior unsecured
obligations of the Co-Obligors. The Notes priced at 105.334% plus
accrued interest from June 1, 2017, with a yield to maturity of 3.298%.
The Offering is expected to close on October 30, 2017 subject to the
satisfaction of customary closing conditions.
Net proceeds from the sale of the Notes are expected to be approximately
$104.0 million after deducting the underwriting discount and the
Co-Obligors' estimated fees and expenses relating to the Offering, but
excluding $1.86 million (assuming the settlement date for the Offering
occurs on October 30, 2017) payable to the Co-Obligors in respect of
interest accrued on the Notes for the period from and including June 1,
2017 to, but excluding, the settlement date. The Company intends to use
the net proceeds from the sale of the Notes for general corporate
purposes, which may include, among other things, the repayment of
amounts outstanding under our revolving credit facility or other
Wells Fargo Securities, LLC, Citigroup Global Markets Inc. and Merrill
Lynch, Pierce, Fenner & Smith Incorporated are acting as joint
book-running managers for the Offering.
The Offering is being made pursuant to a shelf registration statement on
Form S-3 (File No. 333-208621) (the "Registration Statement"), which
became automatically effective upon filing with the Securities and
Exchange Commission, and only by means of a prospectus supplement and
the accompanying prospectus, copies of which may be obtained by
contacting Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite
1000, Minneapolis, MN 55402, Attn: WFS Customer Service, telephone:
1-800-645-3751 (toll-free), e-mail: email@example.com.
Alternatively, you may get these documents for free by visiting EDGAR on
the SEC website at http://www.sec.gov/.
Before you invest in the Notes, you should read the prospectus in the
Registration Statement, the prospectus supplement related to the
Offering, when available, and other documents incorporated by reference
in the prospectus supplement for more complete information about the
Co-Obligors and this Offering.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any of the Notes or any other securities
and shall not constitute an offer, solicitation or sale in any
jurisdiction in which such offer, solicitation or sale is unlawful.
About SL Green Realty Corp.
SL Green Realty Corp., an S&P 500 company and New York City's largest
office landlord, is a fully integrated real estate investment trust, or
REIT, that is focused primarily on acquiring, managing and maximizing
value of Manhattan commercial properties. As of September 30, 2017, SL
Green held interests in 118 Manhattan buildings totaling 47.8 million
square feet. This included ownership interests in 27.5 million square
feet of Manhattan buildings and debt and preferred equity investments
secured by 20.3 million square feet of buildings. In addition, SL Green
held ownership interests in 27 suburban buildings totaling 4.3 million
square feet in Brooklyn, Long Island, Westchester County, Connecticut
and New Jersey
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SL Green Realty Corp.
Chief Financial Officer
Source: SL Green Realty Corp.
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