SL Green Realty Corp. Announces Pricing of $500 Million of SL Green Operating Partnership, L.P.’s 3.250% Senior Unsecured Notes due 2022


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

closing conditions.

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:,

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

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.


SL Green Realty Corp.
Matt DiLiberto
Chief Financial Officer


Source: SL Green Realty Corp.

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