Vornado to Redeem $372.0 Million of 8.25% Series D-5, D-6, D-7 and D-8 Cumulative Redeemable Preferred Units
PARAMUS, N.J.--(BUSINESS WIRE)--Aug. 19, 2005--Vornado Realty Trust (NYSE:VNO) today announced that Vornado Realty L.P., the operating partnership through which Vornado Realty Trust conducts its business, is calling for the redemption of its 8.25% Series D-5, D-6, D-7, and D-8 Cumulative Redeemable Preferred Units. The Preferred Units will be redeemed on September 19, 2005 at a redemption price equal to $25.00 per unit or an aggregate of $372.0 million plus accrued distributions. In conjunction with the redemption, the Company will write-off $10.4 million of issuance costs in the third quarter of this year.
Vornado Realty Trust is a fully-integrated equity real estate investment trust.
Certain statements contained herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with the timing of and costs associated with property improvements, financing commitments and general competitive factors.
CONTACT: Vornado Realty Trust
Joseph Macnow, 201-587-1000
SOURCE: Vornado Realty Trust