Vornado Realty Trust Prices $500 Million 5.75% Senior Notes Offering
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 07 2026
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Source: Globenewswire
- Bond Offering Size: Vornado Realty L.P. announced a $500 million offering of 5.75% senior unsecured notes, expected to close on January 14, 2026, demonstrating the company's ability to access capital markets effectively.
- Interest Rate and Yield: Priced at 99.824% of face value with a yield of 5.78%, this indicates a stable demand for the debt instrument, which may help in reducing overall financing costs.
- Clear Use of Proceeds: Approximately $494 million in net proceeds will be used to repay $400 million of unsecured notes maturing in 2026, ensuring liquidity and optimizing the company's capital structure.
- Market Participants: Several prominent financial institutions, including BofA Securities and J.P. Morgan, acted as joint book-running managers for the offering, enhancing market confidence in Vornado's financial stability.
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Analyst Views on VNO
Wall Street analysts forecast VNO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for VNO is 38.91 USD with a low forecast of 28.00 USD and a high forecast of 46.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
2 Buy
6 Hold
3 Sell
Hold
Current: 31.200
Low
28.00
Averages
38.91
High
46.00
Current: 31.200
Low
28.00
Averages
38.91
High
46.00
About VNO
Vornado Realty Trust is a fully-integrated real estate investment trust (REIT). The Company conducts its business through, and substantially all its interests in properties are held by, Vornado Realty L.P. Its portfolio is concentrated on premier office and high street retail properties in New York City. Its segments include New York and Other. Its New York segment consisted of approximately 26.4 million square feet in 64 properties. The 26.4 million square feet comprises over 20.1 million square feet of Manhattan office in 30 of the properties, 2.4 million square feet of Manhattan street retail in 49 of the properties, 1,330 units in two residential properties, and its 32.4% interest in Alexander’s, which owns five properties in the greater New York metropolitan area. It also includes nine garages totalling over 1.6 million square feet (4,685 spaces). Its Real Estate and Investments consists of over 3.7 million square foot THE MART in Chicago.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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