WASHINGTON (dpa-AFX) - Vornado Realty Trust (VNO) announced that Vornado Realty L.P., the operating partnership through which Vornado Realty Trust conducts its business, has extended one of its two $1.250 billion revolving credit facilities from June 2015 to June 2017 with two 6-month extension options.
The company said that the interest on the extended facility was lowered from LIBOR plus 135 basis points to LIBOR plus 115 basis points. In addition, the facility fee was reduced from 30 to 20 basis points.
The second $1.250 billion facility matures in November 2015 with a one-year extension option.
There are no borrowings outstanding under either of the revolving credit facilities, the company noted.
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