SL Green Realty Corp. has refinanced $2 billion of its $2.4 billion corporate credit facility, extending the maturity of the revolving line to June 2031 and reducing borrowing costs to 125 basis points over SOFR. The refinancing also split the existing $1.05 billion term loan into a new $750 million term loan maturing in June 2031 at 145 basis points over SOFR, while a $300 million portion remains due in May 2027. A separate $100 million term loan with a November 2026 maturity remains unchanged.
The transaction is part of SL Green’s $7 billion 2026 financing plan and was arranged by a consortium of major banks, including Wells Fargo Securities, JPMorgan Chase Bank, TD Securities, BofA Securities, BMO Capital Markets, and Manufacturers and Traders Trust Company. The new terms provide the company with a longer debt horizon and lower interest expense, strengthening its balance sheet and giving it greater flexibility to fund future acquisitions and portfolio management initiatives.
CFO Matt DiLiberto said the refinancing “is another meaningful step forward in the execution of our $7.0 billion 2026 financing plan. The strength of the Midtown Manhattan office leasing market, coupled with the credit quality of our portfolio and our platform, continues to attract the support of the world’s highest quality financial institutions.” He added that the partnership with the lenders “remains a fundamental tool in the execution of our long‑term business strategy.”
The lower borrowing costs and extended maturities reduce SL Green’s interest expense and improve cash‑flow stability. While the refinancing does not directly affect operating margins, the improved debt profile positions the company to pursue opportunistic acquisitions and to weather potential market volatility in the Manhattan office market. The move also signals confidence from a broad group of lenders in the company’s creditworthiness and long‑term strategy.
No market reaction data were available at the time of the announcement, and the transaction is not expected to trigger immediate trading activity. The refinancing is a routine but material financial event that enhances SL Green’s capital structure without altering its core business operations.
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