8/102 sources · 2 publishersUpdated Oct 19, 12:38 UTC
SL Green refinances 245 Park Avenue with $2 billion, 5‑year loan
SL Green Realty Corp. completed a refinancing of its 245 Park Avenue office tower, securing a $2.0 billion loan for five years. The loan carries a 6.52% interest rate, hedged to 6.37%, and replaces $1.768 billion of existing debt. The 1.8 million‑square‑foot building is fully leased. The announcement lifted the stock 0.45% to $47.21 in pre‑market trading.
Why it matters
The new financing reduces SL Green's outstanding debt and locks in a fixed‑rate cost, potentially improving its credit profile. The modest share price gain reflects investor approval of the lower‑cost capital structure.
Key facts
- 1SL Green secured a $2.0 billion loan with a five‑year term. tradingview.com
- 2The loan interest rate is 6.52%, hedged to 6.37%. tradingview.com
- 3The refinancing replaces $1.768 billion of existing debt. tradingview.com
- 4The 245 Park Avenue tower comprises 1.8 million square feet and is fully leased. tradingview.com
- 5Shares rose 0.45% to $47.21 in pre‑market trading following the announcement. seekingalpha.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.