Vornado Completes $375 Million Refinancing of 888 Seventh Avenue Realizing $49 Million of Net Proceeds

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Dec 18 2015	Vornado Completes $375 Million Refinancing of 888 Seventh Avenue Realizing $49 Million of Net Proceeds
PARAMUS, NJ--(Marketwired - December 17, 2015) - VORNADO REALTY TRUST (NYSE: VNO) announced today that it has completed a $375 million refinancing of 888 Seventh Avenue, a 882,000 square foot Manhattan office building. The five-year loan is interest-only at LIBOR + 1.60%, which was swapped for the term of the loan to a fixed rate of 3.15%. The Company realized net proceeds of approximately $49 million.


Source:http://www.marketwired.com/mw/release.do?id=2082998&sourceType=3

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