Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sat, December 4, 2:02 AM
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Slide #59. VORNADO REALTY TRUST — Preferred Stock Offering
VORNADO REALTY TRUST (NYSE:VNO)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
VORNADO REALTY TRUST (NYSE: VNO) today announced the pricing of a public offering of $300 million perpetual 5.25% Series N Cumulative Redeemable Preferred Shares, at a price of $25.00 per share, pursuant to an effective registration statement. The offering is expected to close November 24, 2020, subject to customary closing conditions. The Company may redeem the Series N Preferred Shares at a redemption price of $25.00 per share on and after November 24, 2025. BofA Securities, J.P. Morgan, Morgan Stanley, UBS Investment Bank and Wells Fargo Securities, acted as joint book-running managers.
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.
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Hold (2.08 out of 4)
(ranked lower than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com