Piedmont offers add-on to 9.25% senior notes due July 2028

Chicago, Dec. 5 – Piedmont Operating Partnership LP is in the market with an add-on offering to its 9.25% senior notes due July 20, 2028, according to a 424B5 filing with the Securities and Exchange Commission.

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

The notes are callable with a Treasuries plus 50 basis points make-whole premium until the June 20, 2028 par call date after which the notes may be called at par.

Piedmont issued $400 million of the five-year notes on July 20. The new notes will be fungible with the existing issue.

Wells Fargo Securities, LLC and BofA Securities, Inc. are working as joint bookrunners.

U.S. Bank Trust Co., NA is the trustee.

King & Spalding LLP and Venable LLP (Maryland law) are serving as issuer’s counsel. Hogan Lovells US LLP working as counsel for the underwriters.

Proceeds will be used for general corporate purposes, including to repay outstanding debt, working capital, capital expenditures and other general corporate purposes.

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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