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Stock impact report

Vornado Receives $500 Million From Redemption of Preferred Equity in 640 Fifth Avenue

Vornado Realty Trust (VNO) 
Last vornado realty trust earnings: 2/18 04:38 pm Check Earnings Report
US:NYSE Investor Relations: vno.com/investor-relations/overview
Company Research Source: GlobeNewswire
NEW YORK, May 28, 2019 (GLOBE NEWSWIRE) -- VORNADO REALTY TRUST (NYSE: VNO) announced today that, as contemplated in connection with the recently completed retail transaction, it received $500 million from the redemption of its preferred equity in 640 Fifth Avenue.  The preferred equity was redeemed from the proceeds of a $500 million mortgage financing that was completed on the property. The five year loan, which is guaranteed by Vornado, is interest only at LIBOR plus 1.01%, which was swapped for four years to a fixed rate of 3.07%. Vornado Realty Trust is a fully-integrated equity real estate investment trust. CONTACT:JOSEPH MACNOW(212) 894-7000 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 b Show less Read more
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