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 Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Thursday, April 18, 7:23 PM
Slide #563. Vornado Realty Trust — Preferred Stock Offering
| Company: |
Vornado Realty Trust (NYSE:VNO) |
| Date announced: |
1/17/2013 |
| Underwriters: |
BofA Merrill Lynch, Citigroup, Morgan Stanley, UBS Investment Bank and Wells Fargo Securities |
| Security type: |
5.40% Series L Cumulative Redeemable Preferred Shares (NYSE:VNO.PRL) |
| $Amount Offered: |
$300,000,000 |
| Date of Pricing: |
1/17/2013 |
| Price Per Share: |
$25.00 |
| Preferred Stock Offering Details: |
Vornado Realty Trust announced the pricing of a public offering of $300 million perpetual 5.40% Series L Cumulative Redeemable Preferred Shares, at a price of $25.00 per share, pursuant to an effective registration statement. The offering is expected to close January 25, 2013. The Company may redeem the Series L Preferred Shares at a redemption price of $25.00 per share on and after January 25, 2018. BofA Merrill Lynch, Citigroup, Morgan Stanley, UBS Investment Bank and Wells Fargo Securities, acted as joint book-running managers. The Company has granted the underwriters an option exercisable within 30 days to purchase up to an additional $45 million 5.40% Series L Cumulative Redeemable Preferred Shares at a price of $25.00 per share. |
Vornado Realty Trust is a real estate investment trust and conducts its business through, and substantially all of its interests in properties are held by, Vornado Realty L.P. (the Operating Partnership). Co. is the sole general partner of the Operating Partnership. Co. owns and operates office and retail properties with a concentration in the New York City metropolitan area. In addition, Co. has interest in Alexander's, Inc., which owns properties in the New York metropolitan area, as well as interests in other real estate and investments. Preferreds: VNORP, VNO.PRF, VNO.PRG, VNO.PRH, VNO.PRI, VNO.PRJ, VNO.PRK, VNO.PRL, VNO.PRM, VNO.PRN, VNO.PRO
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| Name: |
Vornado Realty Trust |
| Website: |
www.vno.com |
| Sector: |
REITs |
| Number of ETFs Holding VNO: |
56 (see which ones) |
| Total Market Value Held by ETFs: |
$887,727,622.48 |
| Total Market Capitalization: |
$4,832,000,000 |
| % of Market Cap. Held by ETFs: |
18.37% |
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