Brandywine Realty unit tenders for two series of outstanding notes

By Susanna Moon

Chicago, Sept. 8 – Brandywine Realty Trust said its operating partnership, Brandywine Operating Partnership, LP, began a cash tender offer for two series of its outstanding notes.

The company is offering to purchase its $218,549,000 principal amount of 5.4% guaranteed notes due Nov. 1, 2014 and $157,625,000 principal amount of 7.5% guaranteed notes due May 15, 2015, according to a press release.

The purchase price per $1,000 principal amount will be $1,006.42 for the 5.4% notes and $1,044.18 for the 7.5% notes.

The company also will pay accrued interest to but excluding the payment date of Sept. 16.

The tender offer will expire at 11:59 p.m. ET on Sept. 15.

Tendered notes may be withdrawn at any time by the end of the offer.

Global Bondholder Services Corp. (866 470-4500 or 212 430-3774 collect) is the information agent. Wells Fargo Securities, LLC (866 309-6316 or 704 410-4760 collect) is the dealer manager.

Funding for the tender offer will come from the issue of guaranteed notes, and the offer is conditioned on pricing of the notes.

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

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