Hudson Pacific Properties to price public offering of common stock

Company offers 6.75 million shares in offering to fund debt repayment

By Devika Patel

Knoxville, Tenn., April 26 - Hudson Pacific Properties, Inc. said it plans a public sale of stock.

The company will sell 6.75 million common shares. The underwriters will have a 30-day option to buy an additional 1,012,500 shares.

BofA Merrill Lynch, Barclays Capital, Morgan Stanley and Wells Fargo Securities are the joint book-running managers. The co-manager is KeyBanc Capital Markets.

Proceeds will be used to repay debt under the company's secured revolving credit facility, for future acquisitions, potentially including the acquisition of the remaining 49% interest in the Rincon Center property, and for general working capital purposes.

The owner and operator of office, media and entertainment real estate is based in Los Angeles.

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