SL Green Realty Corp. (NYSE:SLG) Files An 8-K Other Events

ME Staff 8-k
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SL Green Realty Corp. (NYSE:SLG) Files An 8-K Other Events
Item 8.01. Other Events

3.00% Exchangeable Senior Notes due 2017 — Adjustment to Exchange Rate

The 3.00% Exchangeable Senior Notes due 2017 (the “Notes”) issued by SL Green Operating Partnership, L.P. (the“Issuer”) and guaranteed by Reckson Operating Partnership, L.P. (the “Guarantor”) are governed by the Indenture dated as of October12, 2010 (the “Indenture”) entered into between the Issuer, the Guarantor, SL Green Realty Corp. (the “Company”) and The Bank of New York Mellon (the “Trustee”).

The Company declared a dividend on its common stock that requires an adjustment to the Exchange Rate for the Notes. Effective as of September29, 2017, the ex-dividend date in respect of such dividend, the Exchange Rate is 12.8972 shares of Common Stock per $1,000 principal amount of Notes.

Holders of the Notes are reminded that, as disclosed in the Current Report on Form8-K filed with the Securities and Exchange Commission on September14, 2017:

(a) the Maturity Date of the Notes is October16, 2017;

(b) the Notes are exchangeable, at the option of the holders thereof, from September14, 2017 (being the 22nd Scheduled Trading Day prior to the Maturity Date) to the close of business on October12, 2017 (being the second Business Day immediately preceding the Maturity Date). Holders of the Notes may surrender their Notes for exchange upon the terms and conditions of, and to the procedures set forth in, the Indenture;

(c) to Section15.10(d)of the Indenture, the Issuer has previously notified the Trustee in writing that the Cash Percentage shall be 50%. Therefore, to Section15.10(b)and (d)of the Indenture, in respect of any Notes tendered for exchange in accordance with their terms, the Issuer shall, on the Maturity Date, settle its obligations in respect of any such Notes entirely in cash; and

(d) as referred to in the Indenture, the first day of the Applicable Observation Period is September14, 2017 and the last day of the Applicable Observation Period is October11, 2017.

Capitalized terms used but not defined herein shall have the meaning given to such terms in the Indenture.


About SL Green Realty Corp. (NYSE:SLG)

SL Green Realty Corp. is a self-managed real estate investment trust, with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. The Company acquires, owns, repositions, manages and leases commercial office, retail and multifamily properties in the New York Metropolitan area. It operates through two segments: real estate, and debt and preferred equity investments. It owns or holds interests in approximately 30 consolidated and over five unconsolidated commercial office buildings encompassing approximately 21.0 million rentable square feet and approximately 3.0 million rentable square feet, for a total of over 24.0 million rentable square feet, located primarily in midtown Manhattan. It invests in well-collateralized debt and preferred equity investments. It manages an office building owned by a third-party encompassing over 336,000 square feet and holds debt and preferred equity investments.