secwatch.observer — SEC 8-K summary
======================================

Issuer:     VORNADO REALTY LP (—)
CIK:        0001040765
Form:       8-K
Filed at:   2024-05-16T23:59:59+00:00
Accession:  0000899689-24-000026
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

Vornado amends $1.25B revolver and $800M term loan; adds sustainability rate adjustments
--------------------------------------------------------------------------------

- Amendments conform to new $915M revolver (May 3) replacing $1.25B facility maturing Apr 2026.
- Current rates: revolver at Term SOFR+115 bps; term loan at Term SOFR+130 bps; facility fee 25 bps.
- Sustainability thresholds can adjust revolver rate up/down 4 bps, term loan up/down 5 bps, facility fee 1 bp.
- Key covenants: total debt ≤60% of capitalization; fixed charge coverage ≥1.40x; unsecured debt ≤60% of unencumbered assets.
- Secured debt capped at 50% of capitalization; capitalization rates range from 5.75% (multifamily) to 8.0% (trade show).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1040765/000089968924000026/0000899689-24-000026-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/899689/000089968924000026/vno-20240514.htm
  HTML page:      https://secwatch.observer/filing/0000899689-24-000026

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer