SL Green Refinances Corporate Credit Facility

Core Viewpoint - SL Green Realty Corp. has successfully refinanced, extended, and reduced the cost of $2.0 billion of its corporate credit facility, which is part of its broader $7.0 billion financing plan for 2026 [1][2]. Group 1: Refinancing Details - The refinancing includes maintaining a revolving line of credit at $1.25 billion, with the maturity date extended to June 2031 and a borrowing cost reduced by 25 basis points to 125 basis points over SOFR [5]. - A $1.05 billion term loan component has been bifurcated into a new $750 million term loan with a maturity date of June 2031 and a reduced borrowing cost of 145 basis points over SOFR, while the remaining $300 million term loan will continue on its current terms until May 2027 [5]. - An existing $100 million term loan with a maturity date of November 2026 will also remain outstanding on its current terms [5]. Group 2: Company Overview - SL Green Realty Corp. is Manhattan's largest office landlord and operates as a fully integrated real estate investment trust (REIT), focusing on acquiring, managing, and maximizing the value of Manhattan commercial properties [3]. - As of December 31, 2025, SL Green held interests in 56 buildings totaling 31.4 million square feet, including 28.0 million square feet of Manhattan buildings [3]. Group 3: Market Context - The refinancing is supported by the strength of the Midtown Manhattan office leasing market and the credit quality of SL Green's portfolio, which continues to attract high-quality financial institutions [2].