(To read more on the debt and equity markets, click here.)
HIGH POINT, NC-Vornado Realty Trust has completed the$195-million refinancing of High Point Complex. The transactioncarries an interest rate of 6.1% and matures in August 2016.
As a result of the financing, Vornado realized net proceeds ofapproximately $83.8 million after repaying the existing loans onthe property and the closing costs, including a $9-milliondefeasance cost. That cost will be recognized as an expense in thethird quarter, according to a company statement.
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