NEW YORK--(BUSINESS WIRE)--
SL Green Realty Corp. (the "Company") (NYSE: SLG), announced today that
its operating partnership, SL Green Operating Partnership, L.P. (the
"Operating Partnership") priced an offering (the "Offering") of $500
million aggregate principal amount of 3.250% senior unsecured notes due
2022 (the "Notes"). The Notes will be senior unsecured obligations of
the Operating Partnership, fully and unconditionally guaranteed by the
Company and the Operating Partnership's wholly-owned subsidiary, Reckson
Operating Partnership, L.P. ("Reckson"). The Offering is expected to
close on October 5, 2017, subject to the satisfaction of customary
Net proceeds from the sale of the Notes, after deducting the
underwriting discount and estimated fees and expenses, are expected to
be approximately $495.25 million. The Operating Partnership intends to
use the net proceeds from the sale of the Notes to repay the Operating
Partnership's outstanding 3.00% Exchangeable Senior Notes due 2017 and
the balance for general corporate purposes, which may include, among
other things, the repayment of other existing indebtedness.
Wells Fargo Securities, LLC, J.P. Morgan Securities LLC, Goldman Sachs &
Co. LLC and U.S. Bancorp Investments, Inc. are acting as joint
book-running managers for the Offering. Deutsche Bank Securities Inc.
and PNC Capital Markets LLC are acting as co-managers for the Offering.
The Offering is being made pursuant to a shelf registration statement on
Form S-3 (File No. 333-208621)(the "Registration Statement"), which
became automatically effective upon filing with the Securities and
Exchange Commission, and only by means of a prospectus supplement and
the accompanying prospectus, copies of which may be obtained by
contacting Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite
1000, Minneapolis, MN 55402, Attn: WFS Customer Service, telephone:
1-800-645-3751 (toll-free), e-mail: firstname.lastname@example.org,
or J.P. Morgan Securities LLC, 383 Madison Ave, New York NY 10179, Attn:
Investment Grade Syndicate Desk, telephone: 212-834-4533 (collect).
Alternatively, you may get these documents for free by visiting EDGAR on
the SEC website at http://www.sec.gov/.
Before you invest in the Notes, you should read the prospectus in the
Registration Statement, the prospectus supplement related to the
Offering, when available, and other documents incorporated by reference
in the prospectus supplement for more complete information about the
Company, the Operating Partnership, Reckson and this Offering.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any of the Notes or any other securities
and shall not constitute an offer, solicitation or sale in any
jurisdiction in which such offer, solicitation or sale is unlawful.
About SL Green Realty Corp.
SL Green Realty Corp., an S&P 500 company and 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 June 30, 2017, the
Company held interests in 119 Manhattan buildings totaling 47.4 million
square feet. This included ownership interests in 27.5 million square
feet of Manhattan buildings and debt and preferred equity investments
secured by 19.9 million square feet of buildings. In addition, the
Company held ownership interests in 29 suburban buildings totaling 4.6
million square feet in Brooklyn, Long Island, Westchester County,
Connecticut and New Jersey.
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SL Green Realty Corp.
Chief Financial Officer
Source: SL Green Realty Corp.
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