Piedmont Operating plans senior notes via four bookrunners

By Devika Patel

Knoxville, Tenn., Sept. 13 – Piedmont Operating Partnership LP expects to price fixed-rate senior notes, according to a 424B5 filed with the Securities and Exchange Commission.

The bonds will be guaranteed by Piedmont Office Realty Trust, Inc.

The notes feature a make-whole call and then a par call.

U.S. Bancorp Investments Inc., J.P. Morgan Securities LLC, Truist Securities Inc. and Wells Fargo Securities LLC are the bookrunners.

Proceeds will be used to repay outstanding borrowings under the company’s $300 million unsecured 2011 term loan, with any remaining amounts being used for working capital, capital expenditures and other general corporate purposes.

The company is a real estate investment trust with headquarters in Atlanta.

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