Office Properties Income Trust Prices $300 Million 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
Announces 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 priced $300 million aggregate principal amount of 9.000% senior secured notes due 2029. The closing is expected to occur on February 12, 2024, subject to the satisfaction of customary closing conditions. The new notes will be 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 the offering, after initial purchaser discounts and estimated offering costs, are expected to be 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").OPI also announced that it will be p
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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