Vornado Realty Trust closed its public offering of 12.0 million of its 5.25% series M cumulative redeemable preferred shares.
The offering came with an underwriters' option to buy up to 1.8 million additional shares.
Vornado has injected or will inject the entire net proceeds into its operating partnership in exchange for the same number of 5.25% series M preferred units of the OP with a liquidation preference of $25.00 per unit.
Merrill Lynch Pierce Fenner & Smith Inc., Morgan Stanley & Co. LLC, UBS Securities LLC and Wells Fargo Securities LLC were the underwriters.
