SL Green Realty Corp. (the “Company”) (NYSE: SLG) announced today that it priced an underwritten public offering of 8,000,000 shares of its 6.50% Series I Cumulative Redeemable Preferred Stock (the “Series I Preferred Stock”). The shares of Series I Preferred Stock will have a liquidation preference of $25.00 per share. The Company has granted the underwriters an option to purchase up to an additional 1,200,000 shares of Series I Preferred Stock during the next 30 days solely to cover over-allotments, if any. The offering is expected to close on August 10, 2012, subject to customary closing conditions. The Company expects the estimated net offering proceeds, before expenses, to be $193.7 million (or $222.8 million if the underwriters exercise their over-allotment option in full).
Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and UBS Securities LLC are serving as the joint book-running managers of the offering. Barclays Capital Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Mitsubishi UFJ Securities (USA), Inc., PNC Capital Markets LLC and Scotia Capital (USA) Inc. are serving as the co-managers.
This offering is being made pursuant to an effective shelf registration statement originally filed with the Securities and Exchange Commission (the “SEC”) on December 22, 2009 and amended on June 17, 2011 and only by means of a prospectus supplement and prospectus. Copies of these documents may be obtained by contacting Wells Fargo Securities, LLC, 1525 West W.T. Harris Blvd., NC0675, Charlotte, NC 28262, Attention: Capital Markets Client Support, telephone: (800) 326-5897 or email: email@example.com; Citigroup Global Markets Inc. toll-free at (877) 858-5407; Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222 Broadway, 7th Floor, New York, NY 10038, attention: Prospectus Department, or e-mail firstname.lastname@example.org, Phone: 1-800-294-1322; or UBS Securities LLC toll-free at 1-877-827-6444 (ext. 561-3884).
This press release is not an offer to sell, nor a solicitation of an offer to buy securities, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale thereof would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.