Brandywine Operating Partnership to offer fixed-rate guaranteed notes

By Mary-Katherine Stinson

Lexington, Ky., Dec. 6 – Brandywine Operating Partnership, LP is offering guaranteed notes, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will feature a make-whole call until a point near the maturity date and then a par call.

BofA Securities, Inc and Citigroup Global Markets Inc. are the joint bookrunning managers.

Bank of New York Mellon will be the trustee.

Troutman Pepper Hamilton Sanders LLP will serve as counsel for Brandywine, and Simpson Thacher & Bartlett LLP will serve as counsel for the underwriters.

Proceeds will be used to repurchase or redeem the $350 million outstanding principal amount of 3.95% guaranteed notes due Feb. 15, 2023 and for general corporate purposes, which may include the repayment, repurchase or other retirement of debt.

The real estate investment trust for office and industrial properties is based in Radnor, Pa.

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