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Vornado operating partnership extends $1.25B revolving credit facility

Vornado Realty Trust's operating partnership extended one of its two $1.25 billion unsecured revolving credit facilities to January 2022 from November 2018, with two six-month extension options.

The interest rate on the facility was lowered to the London Interbank Offered Rate plus 100 basis points from LIBOR plus 105 basis points, while the facility fee was unchanged at 20 basis points.

JPMorgan Chase Bank NA, Merrill Lynch Pierce Fenner & Smith Inc. and Wells Fargo Securities LLC are the joint lead arrangers and joint book runners, while Citigroup Global Markets Inc., PNC Capital Markets LLC, TD Securities (USA) LLC NA and U.S. Bank NA serve as joint lead arrangers.

JPMorgan also serves as the administrative agent and Bank of America NA and Wells Fargo Bank NA are acting as co-syndication agents.