Office Properties Income Trust Closes $300 Million Offering of Senior Secured Notes Due 2029
Office Properties Income Trust - Common Shares of Beneficial Interest (OPI)
Last office properties income trust - common shares of beneficial interest earnings: 5/1 07:00 am
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Source: Business Wire
Issued Notice of Redemption of $350 Million of Senior Unsecured Notes Maturing in 2024 NEWTON, Mass.--(BUSINESS WIRE)--Office Properties Income Trust (Nasdaq: OPI) today announced that it has consummated the offering of $300 million aggregate principal amount of 9.000% senior secured notes due 2029. The notes are guaranteed by certain of OPI’s subsidiaries and secured by first-priority liens on 17 office properties with a gross carrying value of approximately $574 million and a pledge of the equity interests of the subsidiary guarantors. The net proceeds from this transaction, after initial purchaser discounts and offering costs, are approximately $272 million and will be used, together with borrowings under OPI's secured revolving credit facility, to redeem OPI's 4.250% Senior Unsecured Notes due 2024 (the "2024 Notes").In connection with the offering, OPI issued a notice of early redemption for the 2024 Notes at a redemption price equal to the principal amount of $350 million, pl
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OPI
Earnings
- 2/15/24 - Miss
OPI
Sec Filings
- 4/4/24 - Form DEFA14A
- 4/4/24 - Form DEF
- 4/4/24 - Form ARS
- OPI's page on the SEC website