Vornado Realty LP, the operating partnership of Vornado Realty Trust, Paramus, N.J., has entered into a $1.5 billion unsecured revolving credit facility, according to the real estate investment trust.The three-year facility, which has two one-year extension options, bears interest at 55 basis points above the London interbank offered rate (based on the company's current credit ratings), Vornado said. The co-lead arrangers and joint book-runners for the offering are JP Morgan Securities Inc. and Bank of America Securities LLC. The REIT can be found on the Web at http://www.vno.com.
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