Office Properties postpones $300 million offering of notes due 2027

By Cristal Cody

Tupelo, Miss., May 7 – Office Properties Income Trust postponed a $300 million registered offering of senior notes due Sept. 15, 2027 (Baa3/BBB-) on Wednesday due to market conditions, according to an informed source.

Initial price talk was in the 537.5 basis points over Treasuries area.

Citigroup Global Markets Inc., PNC Capital Markets LLC and Wells Fargo Securities LLC are the bookrunners.

Proceeds from the offering were expected to be used to repay borrowings under the company’s revolving credit facility and for general business purposes, including debt repayment.

The real estate investment trust is based in Newton, Mass.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.