SL Green Realty refinances corporate credit facility

SL Green Realty (SLG) has refinanced, extended and reduced the overall cost of $2.0 billion of its $2.4 billion corporate credit facility. The existing revolving line of credit component of the facility has been maintained at $1.25 billion, the maturity date has been extended to June 2031, inclusive of as-of-right extension options, and the borrowing cost was reduced by 25 basis points to 125 basis points over SOFR based on the Company’s current credit rating. The existing $1.05 billion term loan component of the facility has been bifurcated, resulting in a new $750 million term loan with a maturity date of June 2031 and a borrowing cost that has been reduced by 25 basis points to 145 basis points over SOFR, based on the Company’s current credit rating. The remaining $300 million of the term loan with a maturity date of May 2027 will continue to be outstanding on its current terms. The existing $100 million term loan component of the facility with a maturity date of November 2026 will also remain outstanding on its current terms.