Company: SLG-PI
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001040971-25-000031
Chunk: 89

Company: SL GREEN REALTY CORP
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 1
Chunk 89
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ness, incur liens and enter into negative pledge agreements and dispose of assets, and which require compliance with financial ratios relating to the maximum ratio of total indebtedness to total asset value, a minimum ratio of EBITDA to fixed charges, a maximum ratio of secured indebtedness to total asset value and a maximum ratio of unsecured indebtedness to unencumbered asset value. The dividend restriction referred to above provides that we will not, during any time when a default is continuing, make distributions with respect to common stock or other equity interests, except to enable the Company to continue to qualify as a REIT for Federal income tax purposes. As of June 30, 2025 and December 31, 2024, we were in compliance with all such covenants.Junior Subordinated Deferrable Interest DebenturesIn June 2005, the Company and the Operating Partnership issued $100.0 million in unsecured trust preferred securities through a newly formed trust, SL Green Capital Trust I, or the Trust, which is a wholly-owned subsidiary of the Operating Partnership. The securities mature in 2035 and bear interest at a floating rate of 26 basis points over the three-month Term SOFR. Interest payments may be deferred for a period of up to eight consecutive quarters if the Operating Partnership exercises its right to defer such payments. The Trust preferred securities are redeemable at the option of the Operating Partnership, in whole or in part, with no prepayment premium. We do not consolidate the Trust even though it is a variable interest entity as we are not the primary beneficiary. Because the Trust is not consolidated, we have recorded the debt on our consolidated balance sheets and the related payments are classified as interest expense.

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Table of ContentsSL Green Realty Corp. and SL Green Operating Partnership, L.P.Notes to Consolidated Financial Statements (cont.)June 30, 2025(unaudited)

Principal MaturitiesCombined aggregate principal maturities of mortgages and other loans payable, the 2021 credit facility, trust preferred securities, senior unsecured notes and our share of joint venture debt as of June 30, 2025, including as-of-right extension options but excluding other extension options, were as follows (in thousands):ScheduledAmortizationPrincipalRevolvingCreditFacilityUnsecured Term LoansTrustPreferredSecuritiesSeniorUnsecuredNotesTotalJointVentureDebtRemaining 2025$— $370,000 $— $— $— $100,000 $470