Vornado Renews and Increases Revolving Credit Facility to $1.25B from $1B

VORNADO REALTY TRUST VNO announced today that Vornado Realty L.P., the operating partnership through which Vornado Realty Trust conducts its business, has renewed one of its two unsecured revolving credit facilities and increased it to $1.25 billion from $1 billion. The renewed facility matures in four-years, has a one-year extension option and bears interest at LIBOR plus 135 basis points, based on Vornado's current credit rating. Vornado plans to extend its second revolving credit facility of $1.595 billion maturing in September 2012. Vornado's total revolving credit facilities are now $2.845 billion, of which $100 million is outstanding.