Debt

Alexander’s, Inc. has restructured a $300 million mortgage on its 731 Lexington Avenue property, extending maturity to 2035. The debt is now split into a $132.5 million senior A-Note (7% interest) and a $167.5 million junior C-Note (4.55% interest). Alexander’s also acquired the A-Note and a new B-Note to fund capital expenditures and A-Note interest payments, with the B-Note accruing at up to 13.5% interest.

Oracle’s stock initially surged on bullish AI prospects and its OpenAI partnership, but has since relinquished significant gains. Investor sentiment is cooling due to concerns about the capital intensity of AI buildout, Oracle’s cash flow, and OpenAI’s commitment sustainability. Oracle is reportedly considering a large debt raise to fund its AI infrastructure expansion. Analysts highlight Oracle’s reliance on OpenAI and lower GPU rental margins compared to its core business. Upcoming earnings will be crucial for assessing Oracle’s AI strategy progress and financial health.