SL Green Realty Closes $2.0B Corporate Credit Facility Refinancing, Cuts Borrowing Costs and Extends Maturities to 2031
SL Green Realty Corp announced the refinancing of $2.0 billion of its $2.4 billion corporate credit facility on March 19, 2026, extending key maturities to June 2031 and reducing borrowing spreads by 25 basis points across refinanced tranches. The transaction is part of the company's stated $7.0 billion 2026 financing plan.
Refinancing Structure and Terms
The refinancing restructured a portion of the existing term loan component of the facility. A new $750 million term loan was established with a maturity of June 2031 and borrowing costs set at 145 basis points over SOFR — a reduction of 25 basis points from prior terms. Two existing term loans, a $300 million tranche maturing May 2027 and a $100 million tranche maturing November 2026, remain on their current terms and were not refinanced as part of this transaction.
The $1.25 billion revolving line of credit was also addressed in the transaction, with its maturity extended to June 2031, inclusive of as-of-right extension options, and borrowing costs reduced to 125 basis points over SOFR. In aggregate, the refinancing extended $2.0 billion of the company's corporate debt obligations and lowered the cost of that capital across the refinanced tranches.
Lender Syndicate
The transaction attracted a broad syndicate of financial institutions. Wells Fargo, JPMorgan Chase Bank, TD Securities, and Bank of America served as Joint Bookrunners on the deal. Senior Managing Agents included Goldman Sachs, Deutsche Bank, and Bank of China.
Matt DiLiberto, Chief Financial Officer of SL Green Realty Corp, commented on the transaction: "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."
Strategic Context: SL Green's $7.0 Billion 2026 Financing Plan
The refinancing represents one component of SL Green Realty Corp's broader capital markets strategy for 2026. The company has publicly outlined a $7.0 billion financing plan for the year. By extending $2.0 billion of maturities to June 2031, SL Green reduces near-term refinancing pressure and secures longer-dated capital at reduced costs.
SL Green Realty Corp is headquartered in New York and focuses its office real estate portfolio primarily on Midtown Manhattan.
Sources: GlobeNewswire — SL Green Refinances Corporate Credit Facility (March 19, 2026)