SL Green Realty Corp. (the "Company”) (NYSE: SLG) announced today that
it priced a public offering of 17,000,000 shares of common stock at a
price per share of $20.75. In addition, the Company has granted to the
underwriters for the public offering an option for 30 days to purchase
up to 2,550,000 additional shares of common stock to cover
overallotments, if any. Merrill Lynch & Co., Morgan Stanley, Deutsche
Bank Securities, Citi, Goldman, Sachs & Co., and J.P. Morgan acted as
the joint book-running managers. Subject to customary closing
conditions, the offering is expected to close on or about May 15, 2009.
The estimated net proceeds to the Company from the offering, before
giving effect to any exercise of the underwriters’ overallotment option,
are expected to be approximately $336.8 million. The Company plans to
use the net proceeds from the offering for general corporate and/or
working capital purposes, which may include investment opportunities,
purchases of the indebtedness of its subsidiaries in the open market
from time to time, and the repayment of indebtedness at the applicable
maturity or put date.
This offering was made pursuant to a prospectus supplement to the
Company’s prospectus, dated November 28, 2006, filed as part of the
Company’s effective shelf registration statement relating to these
securities. This press release shall not constitute an offer to sell or
the solicitation of an offer to buy any securities nor shall there be
any sale of these securities in any state in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state.
Copies of the prospectus supplement and accompanying prospectus relating
to these securities, when available, may be obtained from Merrill Lynch
& Co., Attention: Prospectus Department, 4 World Financial Center, New
York, New York 10080; Morgan Stanley, Attention: Prospectus Department,
180 Varick Street, New York, NY 10014, email: prospectus@morganstanley.com;
Deutsche Bank Securities, Attention: Prospectus Department, 100 Plaza
One, Jersey City, New Jersey 07311; Citi, Attention: Prospectus
Department, Brooklyn Army Terminal, 140 58th Street, 8th
floor, Brooklyn, NY 11220; Goldman, Sachs & Co., Attention: Prospectus
Department, 85 Broad Street, New York, NY 10004, email: Prospectus-ny@ny.email.gs.com
and J.P. Morgan Securities Inc., 4 Chase Metrotech Center, CS Level,
Brooklyn, NY 11425, Attention: Prospectus Library.
About the Company
SL Green Realty Corp. is a self-administered and self-managed real
estate investment trust, or REIT, that predominantly acquires, owns,
repositions and manages Manhattan office properties. The Company is the
only publicly held REIT that specializes in this niche. As of March 31,
2009, the Company owned interests in 29 New York City office properties
totaling approximately 23,211,200 square feet, making it New York's
largest office landlord. In addition, at March 31, 2009, SL Green held
investment interests in, among other things, eight retail properties
encompassing approximately 400,212 square feet, three development
properties encompassing approximately 399,800 square feet and two land
interests, along with ownership interests in 32 suburban assets totaling
6,949,700 square feet in Brooklyn, Queens, Long Island, Westchester
County, Connecticut and New Jersey.
Statements made in this press release may be forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements can be identified by the use of
words such as "may,” "will,” "plan,” "should,” "expect,” "anticipate,”
"estimate,” "continue,” or comparable terminology. Such forward-looking
statements are inherently subject to certain risks, trends and
uncertainties, many of which the Company cannot predict with accuracy
and some of which the Company might not even anticipate, and involve
factors that may cause actual results to differ materially from those
projected or suggested. Readers are cautioned not to place undue
reliance on these forward-looking statements and are advised to consider
the factors listed above together with the additional factors under the
heading "Disclosure Regarding Forward-Looking Statements” and "Risk
Factors” in the Company’s Annual Report on Form 10-K, as amended, and as
may be supplemented or amended by the Company’s Quarterly Reports on
Form 10-Q. The Company assumes no obligation to update or supplement
forward-looking statements that become untrue because of subsequent
events, new information or otherwise.
