SL Green (SLG) Closes on $900M First Mortgage Refi; Sees $116M in Proceeds

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SL Green Realty Corp. (NYSE: SLG) has closed on a $900 million first mortgage refinancing of 1515 Broadway.

The new 12-year, 3.93% fixed rate mortgage financing replaces the former $775 million mortgage loan. The refinancing follows the April 2012 renewal by Viacom of 1.6 million square feet at the office tower through 2031.

SL Green will recognize approximately $116 million in net proceeds from the transaction.

Skadden, Arps, Slate, Meagher & Flom LLP acted on behalf of SL Green. Sidley Austin LLP represented the lender group.

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