NEW YORK, May 13 /PRNewswire/ -- SL Green Realty Corp. (NYSE: SLG)
announced today the completion of its public offerings of 10,000,000 shares of
common stock at $22.25 per share, and 4,000,000 shares of 8% Preferred Income
Equity Redeemable Shares(SM) with a liquidation preference of $25.00 per share
("the PIERS(SM)") -- raising total gross proceeds of approximately
$322 million (exclusive of the underwriters' overallotment option of 1,500,000
common shares and 600,000 PIERS).
Both offerings were lead managed by Lehman Brothers. The common stock
offering was co-managed by Donaldson, Lufkin & Jenrette Securities
Corporation, EVEREN Securities, Inc., Legg Mason Wood Walker Incorporated,
Prudential Securities Incorporated and Raymond James & Associates, Inc. The
PIERS offering was co-managed by Prudential Securities Incorporated.
Subsequent to the offerings, SL Green Realty Corp. has approximately
22,292,311 common and 4,000,000 PIERS outstanding before the underwriters
overallotment.
Proceeds of the offerings will be used primarily to repay debt and acquire
properties.
SL Green Realty is a fully integrated, self-administered and self-managed
real estate investment trust ("REIT") which primarily owns, manages, leases,
acquires and repositions Class B office properties in Manhattan.
To receive SLG's latest news release and other corporate documents via FAX
-- no cost -- dial 1-800-PRO-INFO. Use company's ticker, SLG.
SOURCE SL Green Realty Corp.
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CONTACT:
David Nettina, CFO of SL Green Realty Corp.,
212-594-2700; or general, Paula Schwartz, analysts, Pamela King,
or media, Alicia Nieva- Woodgate, 212-661-8030, all of The
Financial Relations Board
NOTE TO EDITORS: To receive SLG's latest news release and other
corporate documents via FAX -- no cost -- dial 1-800-PRO-INFO.
Use company's ticker, SLG.
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