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Last week, $VNO completed a $700MM refinancing of 770 Broadway, a 1,158,000 sq.ft. Manhattan office building. The 5-year loan is interest-only at LIBOR plus 1.75% which was swapped for 4.5 years to a fixed rate of 2.56%. $VNO realized net proceeds of approx. $330MM.
The latest earnings report by $VZ shows how it is losing customers despite offering the unlimited data plans, a record for the company.
$BEBE is closing down all its stores by the end of May.
$WFC agreed to hike its payout in a class-action settlement over unauthorized accounts by $32 million to $142 million for its retail sales practices. The settlement will now include customers who were impacted as early as May 2002.