SL Green refinances Times Square tower

AP News
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Posted: Jan 05, 2010 1:49 PM

New York property owner SL Green Realty Corp. said Tuesday it has refinanced the Times Square tower at 1515 Broadway in Manhattan that serves as headquarters for Viacom International Inc.

The company said it closed on a $475 million refinancing to deleverage the asset and replace the $625 million mortgage that was scheduled to mature in November 2010.

SL Green said it now has a five-year, floating-rate mortgage obtained from a syndicate led by The Bank of China that included DekaBank and Landesbank Baden-Wurttemberg.

The building is owned by SL Green, a real estate investment trust, in a joint venture with SITQ, a unit of Caisse de depot et placement du Quebec. The tower also houses The Minskoff Theatre and AEG Live's Nokia Theatre.

SL Green shares fell $1.06 to $47.87 in afternoon trading.