SL Green Increases Credit Line by $250 Million

NEW YORK — Real estate developer SL Green Realty Corp. has expanded its unsecured corporate credit facility by $250 million, to $2.783 billion, with the addition of two new, quality banking relationships, Bank of Montreal and Mizuho Bank, Ltd.

The term loan portion of the facility, which matures in June 2019, has been increased from $933 million to $1.183 billion while the revolving line of credit portion of the facility, which matures in March 2020, remains at $1.6 billion.

SL Green Chief Financial Officer, Matt DiLiberto, said, “We are pleased to welcome Bank of Montreal and Mizuho to the deep roster of premier lenders in our credit facility. This is the third expansion of our credit facility in less than two years, demonstrating lenders’ continued confidence in our investment grade, New York City-centric portfolio, which is comprised of a sizeable pool of unencumbered assets. The expansion provides additional, flexible corporate funding on very efficient terms with proceeds to be utilized to reduce other outstanding debt as well as provide incremental liquidity for potential investment activity in the future.”

SL Green Realty is an S&P 500 company and New York City’s largest office landlord. It is a real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of June 30, 2016, the Company held interests in 119 Manhattan buildings totaling 44.7 million square feet. This included ownership interests in 28.0 million square feet of commercial buildings and debt and preferred equity investments secured by 16.7 million square feet of buildings. In addition, the Company held ownership interests in 31 suburban buildings totaling 4.9 million square feet in Brooklyn, Long Island, Westchester County, Connecticut and New Jersey.

Wells Fargo Securities, LLC; J.P. Morgan Securities LLC; Deutsche Bank Securities Inc., and U.S. Bank National Association are Joint Lead Arrangers of the facility, 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.