Vornado Raises 250 Million

//February 14, 2006

An offering of unsecured notes nets the realty investment trust some $248 million.Vornado Realty Trust (NYSE: VNO) said that Vornado Realty, the operating partnership through which it conducts business, has priced an offering of $250 million in 5.6% senior unsecured notes due Feb. 15, 2011. The realty investment trust will pay interest on the notes semi-annually on Feb. 15 and August 15. It will use the net proceeds of some $248 million for general corporate purposes.

Joint book-running managers for the transaction were Banc of America Securities and Deutsche Bank Securities.

Shares of Vornado were up $0.06 to $86.70 at midday.