Vornado amends $1.25 billion credit facility and $800 million term loan to match new facility
Vornado Realty L.P., the operating partnership of Vornado Realty Trust, amended its $1.25 billion revolving credit facility maturing December 2027 and its $800 million term loan maturing December 2027 on May 14, 2024. The changes conform definitions and provisions to a new $915 million revolving credit facility maturing April 2029 that the partnership entered into on May 3, 2024.
Key points
- Amendments dated May 14, 2024, with JPMorgan Chase Bank N.A. as administrative agent
- Revolver pricing is Term SOFR plus 115 basis points with a 25 basis point facility fee; term loan pricing is Term SOFR plus 130 basis points
- Sustainability thresholds may adjust the term loan rate by up to 5 basis points, the revolver rate by up to 4 basis points, and the facility fee by 1 basis point
- Covenants include total outstanding indebtedness not exceeding 60% of capitalization value and a combined EBITDA to fixed charges ratio of at least 1.40 to 1.00
The filing
Written by AI on Nov 8, 2026, 12:57 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 16, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.