Piedmont Office Realty says holders tendered 87% of 4.45% notes

Chicago, July 25 – Piedmont Office Realty Trust Inc.’s primary operating subsidiary, Piedmont Operating Partnership, LP, announced the results of the tender offer for any and all of its $400 million outstanding 4.45% senior notes due 2024 (Cusip: 720198AD2) in a press release on Tuesday morning.

Noteholders tendered $349,366,000, or 87.34%, of the notes as of the expiration time. Another $480,000, or 0.12%, of the notes were tendered pursuant to guaranteed delivery methods.

The operating partnership is accepting all of the notes.

Tendering noteholders will receive $1,000 per $1,000 face amount of notes tendered, plus interest to the settlement date.

Settlement is expected for July 27.

The offer expired at 5 p.m. ET on July 24. The notes tendered via guaranteed delivery are due by 5 p.m. ET on July 26.

BofA Securities, Inc. (888 292-0070, 980 387-3907, debt_advisory@bofa.com) and J.P. Morgan Securities LLC (866 834-4666, 212 834-4045) are the dealer managers for the tender offer.

D.F. King & Co., Inc. (800 848-3410, 888 628-1041, piedmont@dfking.com, www.dfking.com/piedmont) is the tender and information agent for the tender offer.

The repurchase of the tenders will be funded by the proceeds from a new senior note offering.

Piedmont is an Atlanta-based real estate investment trust focused on high-quality class A office properties located primarily in major U.S. Sunbelt markets.

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