SL Green Realty Corp., New York, has announced that its subsidiary, SL Green Operating Partnership LP, has priced an offering of $750 million of exchangeable senior notes.SL Green Realty, a real estate investment trust, said the 20-year 3.00% notes will have an initial exchange rate that represents a 25% premium to the last reported sale price of the company's common stock on March 20. The estimated $736 million net proceeds of the offering, which was upsized from $500 million, will be used to repay debt, invest in additional properties, and make open-market purchases of the company's common stock, as well as for general corporate purposes, the office REIT said. SL Green can be found online at http://www.slgreen.com.
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