NEW YORK--(BUSINESS WIRE)--
SL Green Realty Corp. (NYSE: SLG), New York City's largest commercial
property owner, today announced that it has received lender commitments
sufficient to modify and extend the $1.2 billion revolving line of
credit portion of its $2.0 billion unsecured corporate credit facility.
The maturity date of the revolving line of credit will be extended from
March 2018 to March 2020 and the cost reduced by 25 basis points. The
modification is expected to close in the first quarter of 2015, subject
to the satisfaction of customary terms and conditions.
Matt DiLiberto, SL Green's Chief Accounting Officer and Treasurer,
commented, "The strength of our balance sheet combined with the
performance of our platform has garnered strong support from our
lenders. This most recent modification of our credit facility further
extends our debt maturity profile, reduces our overall cost of funds and
provides exceptional financial flexibility as we seek to continue to
take advantage of capital markets opportunities."
Wells Fargo Securities, LLC; J.P. Morgan Securities LLC; Deutsche Bank
Securities Inc., and U.S. Bank National Association are Joint Lead
Arrangers, with Wells Fargo Bank, National Association serving as the
Administrative Agent, JPMorgan Chase Bank, N.A. serving as the
Syndication Agent and Deutsche Bank AG New York Branch and U.S. Bank
National Association serving as Co-Documentation Agents.
About SL Green Realty Corp.
SL Green Realty Corp., New York City's largest office landlord, is a
fully integrated real estate investment trust, or REIT, that is focused
primarily on acquiring, managing and maximizing value of Manhattan
commercial properties. As of September 30, 2014, SL Green held interests
in 96 Manhattan buildings totaling 44.1 million square feet. This
included ownership interests in 28.0 million square feet of commercial
buildings and debt and preferred equity investments secured by 16.1
million square feet of buildings. In addition to its Manhattan
investments, SL Green held ownership interests in 35 suburban buildings
totaling 5.9 million square feet in Brooklyn, Long Island, Westchester
County, Connecticut and New Jersey. For more information, please visit: http://slgreen.com/
Forward-looking Statement
This press release includes certain statements that may be deemed to
be "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 and are intended to be covered
by the safe harbor provisions thereof. All statements, other than
statements of historical facts, included in this press release that
address activities, events or developments that we expect, believe or
anticipate will or may occur in the future, are forward-looking
statements. Forward-looking statements are not guarantees of future
performance and we caution you not to place undue reliance on such
statements. Forward-looking statements are generally identifiable by the
use of the words "may," "will," "should," "expect," "anticipate,"
"estimate," "believe," "intend," "project," "continue," or the negative
of these words, or other similar words or terms.
Forward-looking statements contained in this press release are
subject to a number of risks and uncertainties, many of which are beyond
our control, that may cause our actual results, performance or
achievements to be materially different from future results, performance
or achievements expressed or implied by forward-looking statements made
by us. Factors and risks to our business that could cause actual results
to differ from those contained in the forward-looking statements are
described in our filings with the Securities and Exchange Commission. We
undertake no obligation to publicly update or revise any forward-looking
statements, whether as a result of future events, new information or
otherwise.
SLG-FIN
SL Green Realty Corp.
Matt DiLiberto, 212-594-2700
Chief
Accounting Officer & Treasurer
Source: SL Green Realty Corp.
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