Vornado Announces Public Offering of $175 Million 6.875% Series J Preferred Shares (VNO)

Vornado Realty Trust VNO today announced the pricing of a public offering of 7.0 million perpetual 6.875% Series J Cumulative Redeemable Preferred Shares, at a price of $25.00 per share, pursuant to an effective registration statement. The offering is expected to close April 20, 2011. The Company may redeem the Series J Preferred Shares at a redemption price of $25.00 per share on and after April 20, 2016. BofA Merrill Lynch, Citi, Morgan Stanley, UBS Investment Bank and Wells Fargo Securities, acted as joint book-running managers. In addition, the Company has granted the underwriters an option for 30 days to purchase up to an additional 1.05 million Preferred Shares to cover over-allotments, if any.