NEW YORK--(BUSINESS WIRE)--SL Green Realty Corp. (NYSE: SLG), New York City’s largest commercial property owner, today announced that it has received lender commitments sufficient to modify and extend the $1.2 billion revolving line of credit portion of its $2.0 billion unsecured corporate credit facility. The maturity date of the revolving line of credit will be extended from March 2018 to March 2020 and the cost reduced by 25 basis points. The modification is expected to close in the first quarter of 2015, subject to the satisfaction of customary terms and conditions.
Matt DiLiberto, SL Green’s Chief Accounting Officer and Treasurer, commented, “The strength of our balance sheet combined with the performance of our platform has garnered strong support from our lenders. This most recent modification of our credit facility further extends our debt maturity profile, reduces our overall cost of funds and provides exceptional financial flexibility as we seek to continue to take advantage of capital markets opportunities.”
Wells Fargo Securities, LLC; J.P. Morgan Securities LLC; Deutsche Bank Securities Inc., and U.S. Bank National Association are Joint Lead Arrangers, with Wells Fargo Bank, National Association serving as the Administrative Agent, JPMorgan Chase Bank, N.A. serving as the Syndication Agent and Deutsche Bank AG New York Branch and U.S. Bank National Association serving as Co-Documentation Agents.
About SL Green Realty Corp.
SL Green Realty Corp., 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 September 30, 2014, SL Green held interests in 96 Manhattan buildings totaling 44.1 million square feet. This included ownership interests in 28.0 million square feet of commercial buildings and debt and preferred equity investments secured by 16.1 million square feet of buildings. In addition to its Manhattan investments, SL Green held ownership interests in 35 suburban buildings totaling 5.9 million square feet in Brooklyn, Long Island, Westchester County, Connecticut and New Jersey. For more information, please visit: http://slgreen.com/
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